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All Surges Most Since ‘09 as Cosan Abandons Stake Purchase Plan

Aug. 14 (Bloomberg) -- All America Latina Logistica SA, Latin America’s largest railroad operator, surged the most in four years after Cosan SA Industria & Comercio ended plans to buy a 5.67 percent stake in the company.

The shares gained 9.7 percent to 9.63 reais at 3:07 p.m. in Sao Paulo. A close at that level would be the biggest advance since May 2009. Trading volume was 4.1 times the three-month daily average. The stock was the second-best performer on the benchmark Ibovespa, which rose 0.9 percent.

Talks to acquire a stake in All “ended without the transaction coming to fruition,” Cosan said in a statement today. Cosan, which controls the world’s biggest sugar-cane processor with Royal Dutch Shell Plc, had agreed in February 2012 to buy 39 million shares of the Curitiba, Brazil-based railroad operator.

Sao Paulo-based Cosan’s shares fell 2 percent to 40.77 reais, poised for the lowest close since December. All has gained 16 percent this year, compared with a 16 percent drop in the Ibovespa.

To contact the reporter on this story: Julia Leite in New York at jleite3@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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