CMA CGM Acquires Majority Stake In South America’s Largest Container Terminal

CMA CGM, a leading worldwide shipping company, has now become the controlling shareholder of Santo Brasil Participações S/A, after securing a staggering 51% stake in the company.

The finalisation of the deal was done on April 24, 2025 and the transaction was completed at a share price of BRL 13.60.

CMA CGM purchased approximately 47.9% of Santos Brasil’s shares during the acquisition, adding to the 3.1% stake already held by one of its affiliates since September 2024.

With this, the Group now controls a total of 51% of the company.

After the completion of the deal, CMA CGM announced that, through its subsidiary CMA Terminals Atlantic SA, it will launch a mandatory tender offer to buy out the remaining outstanding shares of Santos Brasil.

The offer will match the price paid for the Opportunity stake, adjusted by the SELIC interest rate until the settlement of the tender offer.

Additionally, CMA CGM plans to change Santos Brasil’s public company registration with the Brazilian Securities and Exchange Commission (CVM) to Category “B”.

This would remove the company from the Novo Mercado segment of Brazil’s stock exchange B3.

However, this registration change will only move forward if an independent valuation confirms that the minimum share price matches or is below the transaction price, adjusted by the SELIC rate.

CMA Terminals Atlantic SA also retains the right to waive this condition at its sole discretion before formally filing the tender offer with CVM.

To begin this process, Santos Brasil has scheduled an Extraordinary General Shareholders Meeting for April 29, 2025, where an independent appraiser will be appointed to conduct the valuation as required.

Santos Brasil is the operator of Tecon Santos, South America’s largest container terminal, located at the Port of Santos.

The terminal currently handles around 40% of Brazil’s containerised cargo and has an annual handling capacity of 2.5 million TEUs, with expansion plans aiming to reach 3 million TEUs soon.

Along with Tecon Santos, the company manages eight other important assets across Brazil, offering container handling, liquid bulk operations, vehicle handling, and logistics services.

Rodolphe Saade, CEO of CMA CGM Group, stated that this investment represents a strong commitment to strengthen the company’s relationship with Brazil and supporting its economic growth.

The transaction, valued at approximately $2 billion, is expected to bring new investments to Santos Brasil’s terminals.

CMA CGM plans to expand the terminals’ capacity and improve services for exporters and importers in Brazil.

Reference: CMA CGM

Source: Maritime Shipping News