SAO PAULO, June 19 (Reuters) - TPI Triunfo Participações & Investimentos SA has agreed to sell a 50 percent stake in a port terminal to partner MSC Mediterranean Shipping Co SA’s TIL unit, a key step towards advancing the debt-laden Brazilian infrastructure firm’s turnaround, a person familiar with the matter said on Monday.
According to the person, Triunfo sold the 50 percent it has in Terminal Portuário de Navegantes SA for 1.3 billion reais ($396 million) to TIL, which with it had been partners since 2001. The transaction still hinges on antitrust and port industry regulatory approval, the person said.
São Paulo-based Triunfo declined to comment.
$1 = 3.2819 reais Reporting by Guillermo Parra-Bernal; editing by Diane Craft