CMA CGM has agreed to acquire a 48 per cent stake in Santos Brasil Participações S/A (Santos Brasil), a major listed Brazilian multi-terminal operator, from Opportunity Funds.
With this purchase, the French shipping company seeks to expand its line calls at several Brazilian terminals and strengthen its offering to Brazilian exporters and importers, responding to rising demand and better meeting consumer expectations.
The growth potential of Tecon Santos terminal capacity, as well as its operational competence, will help to improve service quality.
To satisfy global demand, CMA CGM intends to accelerate investments in Santos Brasil terminals, with the goal of increasing total capacity in the future years, consistent with Santos Brasil’s promises to port authorities.
These important facilities will continue to function as multi-user terminals under the present management team, with an emphasis on increasing service quality to meet customer expectations.
CMA CGM noted that it is also committed to pursuing Santos Brasil’s existing decarbonisation strategy.
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Rodolphe Saadé, CEO of CMA CGM Group said: “I am pleased that the CMA CGM Group has concluded this strategic agreement for the acquisition of Santos Brasil, which operates five terminals in Brazil, including the largest container terminal in the Port of Santos, handling 40 per cent of Brazilian volumes, as well as a logistics company.”
The deal with Opportunity Funds is scheduled to occur in the first quarter of 2025, subject to regulatory clearances from the appropriate Brazilian authorities.
Following the acquisition, CMA CGM revealed that it will make a required tender offer on all remaining Santos Brasil shares, on the same conditions and in accordance with Brazilian market regulations.
In August, CMA CGM AIR CARGO confirmed the delivery of its third Boeing 777-200F.
