LatAm Transport and Capital Goods "Daily Take-Off: RAIL, MYPK, CPA, VLRS..."

Research evidence excerpt

LatAm Transport and Capital Goods "Daily Take-Off: RAIL, MYPK, CPA, VLRS..."

Global Research

18 May 2026ab

LatAm Transport and Capital Goods Equities

Latin AmericaDaily Take-Off: RAIL, MYPK, CPA, VLRS, TUPY

Industrial

Alberto Valerio

RAIL: Cosan evaluates Rumo stake divestment and plans to reshape holding Analyst

structure alberto.valerio@ubs.com

According to Valor, Cosan is advancing its deleveraging strategy through the +55-11-2767 6918

potential sale of a minority stake in Rumo, having reportedly received at least eight Andressa Varotto

non-binding proposals from interested parties including Bunge, Inpasa, and Analyst

Ultrapar, indicating growing competitive tension around one of its most valuable andressa.varotto@ubs.com

assets - Link. Beyond the transaction itself, management signalled a more +55-11-2767 6654

structural shift in the group’s strategy, suggesting that the holding company could Rafael Simonetti

ultimately be dissolved, potentially starting in 2027, with shareholders receiving Associate Analyst

direct stakes in the underlying subsidiaries, reinforcing the view that Cosan may rafael.simonetti@ubs.com

transition away from a portfolio-style investment vehicle as it prioritizes balance +55-11-2767 6628

sheet simplification and lower leverage - Link. Potential Impact: Neutral for Rumo.

RAIL: STF schedules Ferrogrão ruling resumption for May 20

According to Agência iNFRA, STF President Edson Fachin scheduled the resumption

of the Ferrogrão trial for May 20. The case, filed by PSOL, challenges the law that

altered the boundaries of Jamanxim National Park (PA) to enable the railway

project. The trial had been suspended in Oct/25 after a request for review by

Minister Flávio Dino, who returned the case for judgment in late Feb/26. Before the