MSC Buys Remaining Stake in Brazil’s Portonave

Image Courtesy: Portonave

Swiss container shipping giant Mediterranean Shipping Company (MSC) has taken full control at Brazil’s port operator Portonave as it purchased the remaining shares in the company.

Namely, MSC has, through its subsidiary Terminal Investment Limited (TIL), reached an agreement to buy the 50 percent share in the port operator from Triunfo Participações & Investimentos (TPI).

The company already held a 50 percent stake of Portonave.

Valued at around BRL 1.3 billion (USD 389.8 million), the deal is subject to necessary approvals by relevant authorities, according to TPI.

Triunfo opted to sell its share in Portonave as part of its efforts to collect cash in order to satisfy debt payments, Reuters earlier said, citing Eleven Financial Research.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2017 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

BWMTech North America

Are you operating to international standards? Clarify regulations. Plan BWMS integration…

read more >

NEVA 2017

The diversity of the Conference Programme is well-rounded by a broad spectrum of topics including Commercial Shipbuilding, Offshore and Marine…

read more >

LIQUEFACTION OF BULK CARGOES SEMINAR

GET TO GRIPS WITH:
– Mechanisms behind liquefaction
– Guidelines and regulations for bulk cargoes prone to liquefaction…

read more >

Seatrade Offshore Marine & Workboats Middle East

The largest event for offshore marine and workboat sectors in the region, Seatrade Offshore Marine & Workboats Middle East will, once again, serve as a meeting point for international industry professionals to come together and do business. Our 2017 show promises a wealth of networking opportunities, high-level discussions in our conferences on important industry trends, […]

read more >