Purchase of around 48 per cent share in Brazilian terminal operator would include stake in South America’s largest container terminal
French shipping and logistics company CMA CGM has opted to spend some of its pandemic profits on the acquisition of an approximately 48 per cent stake in multi-terminal operator Santos Brasil, including South America’s largest container terminal in the Port of Santos.
Santos Brasil is the leading terminal operator in Brazil, with eight strategic assets including container handling and logistics services across the country.
Its flagship asset is the container terminal Tecon Santos in the State of São Paulo.
The move represents a major move for CMA CGM, one that expands its presence in South America and should strengthen its position as a global terminal operator.
“This significant investment reflects our commitment to strengthening our partnership with Brazil and supporting its growth in the coming years,” CMA CGM chief executive Rodolphe Saade said in a statement.
The company said it would launch a public offer on the remaining shares in the coming months, and was committed to support the development of Santos Brasil’s terminals.
A significant portion of Brazil’s fruit exports, including tropical fruits like bananas, mangoes, and pineapples, pass through Port Santos.
