The CMA CGM Group has announced the signing of “a definitive and irrevocable agreement to acquire a c.48% stake in Santos Brasil Participações S/A (« Santos Brazil »)”, a listed Brazilian multi-terminal operator.
As detailed in CMA CGM’s announcement, Santos Brasil manages a portfolio of 8 assets on the Brazilian coast, including 3 Container Terminals, 1 Vehicle Terminal, 1 Liquid Bulk Terminal and 3 Logistic Facilities. These assets are located in the Ports of Santos, Imbituba, Vila do Conde, Itaqui and in Sao Paulo.
Among the assets is the Tecon Santos terminal, the largest container terminal in South America.
“The acquisition of Santos Brasil marks another significant milestone in CMA CGM’s global port development strategy, reinforcing its position as a leading global multi-user terminal operator with investments in approximately 60 terminals worldwide,” said CMA CGM, in its press release regarding the deal.
CMA CGM added that it intends to further develop its line calls in the various Brazilian terminals and to further improve its offering to Brazilian exporters and importers.
Moreover, to meet global demand, CMA CGM stated that it intends to accelerate investments in the Santos Brasil terminals, with an objective to increase the combined capacity in the coming years, in line with the commitments undertaken by Santos Brasil with port authorities.
CMA CGM also announced that the facilities will continue to operate as multi-user terminals under the leadership of the current management team, while the decarbonization plan already initiated by Santos Brasil will continue as planned.
Commenting on the deal, 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% of Brazilian volumes, as well as a logistics company. This significant investment reflects our commitment to strengthening our partnership with Brazil and supporting its growth in the coming years.”