CMA CGM completes 51% stake buy in Santos Brasil

CMA CGM Group announced the closing of its acquisition of approximately 47.9 percent of Santos Brasil Participações (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. As a result, CMA CGM Group now holds a 51 percent stake in Santos Brasil, making it the company’s controlling shareholder, says an official release.

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

Santos Brasil is the leading terminal operator in Brazil with eight assets in container, liquid and vehicle handling and logistics services across the country. Its flagship asset is the container terminal Tecon Santos in the State of São Paulo.

Over the 12 months ending June 30, 2024, the company generated BRL 2.5 billion of revenue ($458 million) and BRL 1.3 billion of EBITDA ($230 million).

The CMA CGM Group has been operating in Brazil for over 20 years with over 10, 000 staff members. The Group has developed its activities in Brazil organically as well as through the acquisition of Mercosul, a historic shipping line in the region.