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International Cooperation Department
Tel.: (+86-21) 65853850-8034
Fax: (+86-21) 65373125
E-mail: ICDept@sisi-smu.org
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International Shipping |
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| CGM CMA to buy Brazilian marine terminal operator |
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Date:2025-05-07 Readers:
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FRENCH shipping giant CMA CGM says it has closed the first stage in its planned acquisition of Santos Brasil, a multi-terminal operator in Brazil including the Port of Santos.
CMA CGM announced in September 2024 its intention to acquire the company first buying shares from an institutional fund manager and then launching a tender offer for the remaining shares.
The acquisition comes as South America and specifically Brazil continues to draw investments from the major shipping companies, reports Fort Lauderdale's Maritime Executive.
CMA CGM will be investing in excess of US$2 billion to expand its operations in Brazil. MSC and Maersk have also announced expansions for their operations in Brazil as well as DP World.
CMA CGM reports it closed the acquisition of 48 per cent of the shares in Santos Brasil from funds managed by Opportunity, one of the largest asset managers in Brazil for a reported value of approximately US$1.1 billion. Combined with a three per cent position held by an affiliate of CMA CGM, the company now controls 51 per cent of Santos Brasil.
Santos Brasil operates five terminals and a total of eight assets, including the largest container terminal in Brazil and South America.
The Tecon Santos Terminal in Santos currently has a capacity of 2.5 million TEU and will be expanded to 3 million TEU. It can dock three 14,000-TEU vessels simultaneously.
According to CMA CGM, the terminal handles 40 per cent of Brazil's overall container volume. They also called it the most efficient terminal in the Port of Santos.
https://www.shippingazette.com/news?news_id=9250500000092
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