The CMA CGM Group has signed an agreement to acquire a 48% stake in Santos Brasil Participações S/A, a major listed Brazilian multi-terminal operator.
“Santos Brasil 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,” says Rodolphe Saadé, CEO of the CMA CGM Group.
The multi-terminal operator manages a portfolio of eight assets on the Brazilian coast, including three container terminals, one vehicle terminal, one liquid bulk terminal, and three logistics facilities. These assets are located in the ports of Santos, Imbituba, Vila do Conde, Itaqui and in São Paulo.
Its flagship asset is the container terminal Tecon Santos in the State of São Paulo, which has capacity for 2.5 million TEUs, expandable to 3.0m in the near future.
It has three berth slots capable of handling 14 000-TEU vessels.
Over the 12 months ending June 30, the company generated $458m and an Ebitda of $230m.
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, says Saadé.
Closing of the transaction is expected in the first quarter of 2025, subject to regulatory approvals from relevant Brazilian authorities.
Following completion of the acquisition, the shipping major will launch a mandatory tender offer for all other Santos Brasil shares.
