Davis Polk is advising MMX Mineração e Metálicos S.A. in connection with the sale of a 65% interest in MMX Porto Sudeste Ltda. to indirect subsidiaries of Trafigura Pte. Ltd. and Mubadala Development Company PJSC. MMX Porto owns an iron ore handling port terminal located at the City of Itaguaí, State of Rio de Janeiro, with an initial handling capacity of 50 million annual tons. Trafigura and Mubadala will indirectly make an investment of US$400 million and assume R$1.3 billion (US$596 million) of debt of MMX Mineração.

Based in Rio de Janeiro, MMX Mineração is the iron ore company of the EBX Group. With two systems in operation – the Sudeste System in Minas Gerais and the Corumbá System in Mato Grosso do Sul, MMX has installed capacity capable of producing 10.8 million annual tons of iron ore. MMX also holds the Sudeste Superport, which is being built in Sepetiba Bay.

The Davis Polk corporate team includes Manuel Garciadiaz, H. Oliver Smith, James Vickers, Brian L. Friedman and Daniel R. Marx. Members of the Davis Polk team are based in the New York and São Paulo offices.