Brazil - Specialist leasing services company for heavy-duty trucks, semi-trailers, and associated equipment, Addiante Serviços Financeiros e Digitais (Addiante)* of Porte Alegre, Brazil, in August signed a purchase and leaseback agreement with Brazil’s largest international waste and environmental remedial management companies, Ambipar Group**. The operation involves the acquisition of 1,600 vehicles from the group's fleet and their subsequent leaseback by Addiante. The transaction, which includes the leasing of trucks, buses, minibuses, vans and tractor units, will be implemented gradually over 24 months, during which used vehicles will be progressively replaced by new models. Each new vehicle will be leased for a period of 60 months from its replacement date.

The financial resources for the transaction will come partly from equity, to which the partners (Gerdau & Randoncorp) will contribute BRA300 million, proportional to their equity interests in Addiante, and partly from raising capital in the market. The transaction is still subject to precedent conditions, including approval by the competition authorities.