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Railtex Reduces Stake In Brazil – RailTex sells 49.5% of Brazilian interests to Global Environmental Fund

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FindArticles > Railway Age > Jan, 1999 > Article > Print friendly

Railtex Reduces Stake In Brazil – RailTex sells 49.5% of Brazilian interests to Global Environmental Fund – Brief Article

RailTex announced that it is selling 49.5% of its Brazilian railway interests to Global Environment Fund for $11 million. RailTex President Ron Rittenmeyer said the San Antonio-based short line holding company continues to see “tremendous opportunity” in Brazil, but “we feel it is prudent for RailTex to reduce its Brazilian investments and redeploy that capital to other areas, including debt reduction.” He said the transaction “has the added benefit of partnering with a high quality investment firm to co-manage the existing investment and to identify and evaluate other investment opportunities.”

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