French liner giant CMA CGM has laid the foundation for the takeover of Brazilian port terminal operator Santos Brasil Participacoes.
The Rodolphe Saadé-led carrier is buying a 48% stake for about $1.15bn with plans to launch an offer for Santos Brasil’s remaining shares after the initial transaction closes during the first quarter of 2025.
“This significant investment reflects our commitment to strengthening our partnership with Brazil and supporting its growth in the coming years,” said CMA CGM chief executive Saadé.
Santos Brasil operates three container terminals, one vehicle and one liquid bulk terminal, in addition to three logistic facilities, located in the Ports of Santos, Imbituba, Vila do Conde, Itaqui and Sao Paulo.
The portfolio includes South America’s largest container terminal, Tecon Santos, with a capacity of 2.5m teu, expandable to 3m and three berth slots capable of handlining 14,000 teu ships.
Marseille-based CMA CGM said it plans to boost investments in Santos Brasil terminals in the coming years with an aim to increase their combined capacity.
CMA CGM has been operating in Brazil for over 20 years. In 2017, The Group acquired local shipping line Mercosul, which today operates 10 weekly mainline services at 14 ports in the country.
“This strategic move will enable CMA CGM to offer seamless connections between Europe, Asia, North America, Caribbean solidifying Brazil’s position as a key hub in the group’s worldwide operations and reinforcing synergies with Mercosul,” the company said.
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