CMA CGM becomes majority owner of Brazil’s largest container terminal
Last September CMA CGM announced plans to acquire a 47.9% stake in terminal operator Brasil Participações S/A (Santos Brasil) from funds managed by Opportunity.
This deal has now been closed and makes CMA CGM the controlling shareholder in Santos Brasil with a 51% stake including a separate 3.1% stake owned by the French company. Santos Brasil owns the largest container terminal in South America in the Brazilian port of Santos.
CMA CGM will also be making a mandatory bid for all shares it does not own in Santos Brazil through CMA Terminals Atlantic.
The offer will be priced at the same level and conditions as the acquisition of the stake from Opportunity adjusted to the SELIC reference interest rate for the Brazilian economy.
Santos Brasil operates five container terminals in Brazil and handles 40% of the country’s volumes.
Santos Brasil manages a portfolio of eight facilities on the Brazilian coast, including three container terminals, a vehicle terminal, a liquid bulk terminal and three logistic facilities. These assets are located in the Ports of Santos, Imbituba, Vila do Conde, Itaqui and in Sao Paulo.
Tecon Santos terminal is the largest container terminal in South America, with a strategic location in the Port of Santos and benefits from first-class infrastructure: A long-term concession agreement until 2047; a capacity of 2.5 million teu, expandable to 3.0 million teu in the near future; three berths capable of handling 14,000 teu ships and is the most efficient terminal in the Port of Santos with excellent berth productivity.
