Mitsui & Co. has entered into an agreement on the sale of 49.9% in Guarana Urban Mobility Inc. (GUMI), which manages a transport PPP business in Brazil.

More specifically, Mitsui & Co. has entered into an agreement with West Japan Railway Company and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) on the sale of 49.9% of Mitsui's shares in GUMI, Mitsui's wholly owned subsidiary engaged in the urban passenger rail business in Brazil.

Mitsui signed a share sales agreement with West Japan Railway and JOIN on December 9, 2015.

In November 2014, Mitsui, with the aim of pursuing transportation concession and PPP business in the Brazilian urban transport sector, established Odebrecht Mobilidade S.A. (OM), which is a joint venture between the Odebrecht group and GUMI. OM owns four businesses:

• the SuperVia suburban railway in Rio de Janeiro State (already in operation);
• the No. 6 subway line in São Paulo (opening scheduled for 2021);
• an LRT system in Rio de Janeiro City (opening scheduled for 2016); and
• an LRT system in Goiania (opening scheduled for 2018).

OM plans to continue its investment in and development of new urban transportation businesses in major Brazilian cities.

In Brazil, the expansion of public transport capacity has become an urgent priority for cities, especially Rio de Janeiro, which will host the 2016 Olympic and Paralympic Games.

The four businesses owned by OM will respond to expanding transportation demand in the cities concerned and are expected to contribute to urban development as high-quality core transportation infrastructure. The participation of JOIN as a shareholder will facilitate negotiations with state and city governments and ensure the stable management of the businesses. With West Japan Railway as a shareholder, GUMI has access to Japanese railway operating expertise.