Brazil's Rumo nixes cap-hike plan; Cosan sees new 2 bln reais issue
SAO PAULO/RIO DE JANEIRO Jan 15 (Reuters) - The board of Brazilian transportation company Rumo Logistica Operadora Multimodal SA recommended the cancellation of a planned capital increase due to the macroeconomic outlook and market instability, according to a Friday filing.
The company known as Rumo ALL said it had already begun studying a new capital increase.
Cosan Logistica SA, transport arm of the group holding about 20 percent of Rumo's common shares, said in a separate filing it was still committed to injecting at least 250 million reais ($62 million) of an anticipated new capital increase of around 2 billion reais.
($1 = 4.03 Brazilian reais) (Reporting by Priscila Jordao and Luciana Bruno; Editing by Bernadette Baum)
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