Brazilian energy company Cosan SA Indústria e Comércio said its Rumo Logística unit is in preliminary talks to purchase the country’s largest railroad operator, América Latina Logística SA , or ALL.

Cosan, the world’s largest sugar and ethanol exporter, said in a statement that no formal offer has been made to ALL. Local media has reported that the Brazilian government is working to convince Cosan to take over the railway operator. (Reuters)