Report: China’s CMG Eyes Stake in Brazilian Container Port

Image Courtesy: TCP

Chinese state-owned corporation China Merchants Group (CMG) is looking to spread its footprint in Brazil as the company is reportedly in negotiations to buy Advent International Corp’s 50 percent stake in TCP Terminal de Contêineres de Paranaguá SA, local media informed.

Namely, the conglomerate is preparing to acquire the stake in Brazil’s second-busiest container port, which was put up for sale in 2016.

The negotiations with the Chinese group intensified after the Dubai-based DP World decided to back out of the race for the terminal stake.

Local media cited undisclosed sources close to the matter as saying that the value of the share in question stands at some USD 1 billion.

The negotiations are allegedly in the advanced phases as the parties are set to resolve final details on the matter and could soon sign a binding agreement on the sale.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 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 31 1 2 3 4 5

Offshore Energy Exhibition and Conference (OEEC) 2020

The three-day event includes an exhibition where an expected 600+ supply chain companies…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >