CMA CGM gains control of South America’s largest container terminal

CMA CGM Group has confirmed the closing of its acquisition of approximately 47.9% of Santos Brasil Participações S/A (Santos Brasil) from funds managed by Opportunity, following regulatory approvals from relevant Brazilian authorities.

The transaction was completed at a price per share of BRL 13.60 (around US$2.40).

As a result of this move, the French shipping company now holds a 51% stake in Santos Brasil, making it the company’s controlling shareholder. This includes the 47.9% shares acquired from Opportunity and the 3.1% shares acquired by an affiliate of CMA CGM in September 2024.

As announced on 23 September 2024, and as a result of the closing of the transaction, CMA CGM, through CMA Terminals Atlantic SA, will launch a mandatory tender offer to acquire all outstanding shares of Santos Brasil for the same price and conditions paid to Opportunity.

Santos Brasil’s Extraordinary General Shareholders Meeting to appoint the appraiser will be held on 29 April 2025.

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