Report: Advent Looking to Sell Stake in Brazil’s TCP

Global private equity firm Advent International is considering to sell its stake in Brazil’s second largest container terminal, Bloomberg cited sources close to the matter.

The sources revealed that the stake in the container terminal, Terminal de Contêineres de Paranaguá (TCP), could reach a price of up to USD 1.2 billion.

Advent International purchased the 50 percent of the capital stock of TCP in January 2011 under undisclosed financial terms.

Under Advent’s investment, the terminal was in line for an aggressive expansion plan aimed at increasing its capacity by approximately 70 percent through the construction of a third berth and purchase of new equipment.

After receiving an investment of USD 112 million, TCP is currently capable of handling 1.5 million TEUs per year. The terminal has about 320 thousand square meters of warehousing area and an 879-meters quay wall with up to 3 berths.

In October 2014, the terminal revealed a new USD 337.5 million investment plan. During the first phase, which runs until 2018, USD 165.6 million will be invested to expand and improve the terminal, including more than 220 meters expansion of the mooring dock, while the existing 320 thousand square meters of retro area will be increased to up to 500 thousand square meters.

At the end of this phase, TCP will have its handling capacity augmented from 1.5 million TEUs to 2.5 million TEUs.

TCP’s shareholders are Advent International, Pattac Empreendimentos e Participações S/A, TUC Participações Portuárias S/A, Soifer Participações Societárias Ltda., Grup Marítim TCB S.L. and Galigrain S.A.

World Maritime News Staff

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