U.S. products trader Bunge and a subsidiary of Japan's ZenNoh Group have accepted buy part of a terminal at Latin America's largest port from Rumo for 600 million reais ($ 115.3 million), according to a. securities filing on Wednesday.

Brazilian rail operator Rumo said in the filing. that it had tied up the binding agreement to offer its 50% stake. in the XXXIX terminal, at the sprawling Santos port, which is. understood for shipping out coffee and other products.

With this deal, the companies expect to acquire larger. logistical versatility in a crucial export passage in Brazil,. Bunge and Zen-Noh said in a statement.

The companies added the offer would be made through a. joint-venture with Zen-Noh Grain Corp, the U.S. subsidiary of. Zen-Noh Group, with each of the partners holding an equal stake.

Brazilian food and fuel processor Caramuru Alimentos, among. the nation's largest grain crushers, holds the remaining 50% of. the terminal, according to Bunge and Zen-Noh.

Rumo stated the sale strengthens the company's technique to. enhance its money position and concentrate efforts on tasks to. boost capacity and make its railways more competitive.