The CMA CGM Group has announced an agreement to acquire a 48% stake in Santos Brasil Participações S/A, a prominent Brazilian multi-terminal operator.
This investment marks a significant expansion of CMA CGM’s presence in Brazil and aligns with the company’s global port development strategy.
“Santos Brasil operates five terminals across Brazil, including the country’s largest container terminal at the Port of Santos, handling approximately 40% of Brazil’s container volume,” stated Rodolphe Saadé, CEO of CMA CGM Group.
“This major investment underscores our commitment to strengthening ties with Brazil and supporting its growth over the coming years.”
The multi-terminal operator’s portfolio comprises eight assets located along Brazil’s coast, including three container terminals, one vehicle terminal, one liquid bulk terminal, and three logistics facilities.
These are strategically positioned in the ports of Santos, Imbituba, Vila do Conde, Itaqui, and in São Paulo.
Santos Brasil’s flagship asset, the Tecon Santos container terminal in São Paulo, has a current capacity of 2.5 million TEUs, with plans for expansion to 3.0 million TEUs.
The terminal features three berths capable of accommodating vessels with a capacity of up to 14,000 TEUs.
For the fiscal year ending June 30, 2024, Santos Brasil reported revenue of $458 million and an EBITDA of $230 million.
According to Saadé, “The acquisition of Santos Brasil strengthens our position as a global multi-user terminal operator, now with investments in approximately 60 terminals worldwide.”
The transaction is expected to close in the first quarter of 2025, pending regulatory approval from Brazilian authorities.
Following completion, CMA CGM intends to initiate a mandatory tender offer for all remaining shares of Santos Brasil.
