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>

<< Jun 2019 >>
MTWTFSS
27 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

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >