Shares of Brazil's ALL jump on proposed Cosan joint venture

lunes 24 de febrero de 2014 10:39 GYT

SAO PAULO Feb 24 (Reuters) - Shares of Brazilian logistics company ALL America Latina Logistica SA soared in opening trading on Monday after an announcement proposing a joint venture between ALL and Rumo Logistica, the transportation unit of sugar and ethanol heavyweight Cosan SA.

At 11:32 a.m. (1432 GMT), ALL shares were up nearly 11 percent to 7.23 reais, while shares of Cosan rose 2.74 percent to 36.33 reais. (Reporting by Asher Levine)