CMA CGM Group, a global leader in sea, land, air and logistics solutions, has announced the closing of its acquisition of approximately 47.9% of Santos Brasil Participações S/A (Santos Brasil) from funds managed by Opportunity, following regulatory approvals from relevant Brazilian authorities. As a result, CMA CGM Group now holds a 51% stake in Santos Brasil, making it the company’s controlling shareholder. Santos Brasil is a multi-terminal operator in Brazil owning South America’s largest container terminal in the Port of Santos. As announced on September 23, 2024, and as a result of the closing of the transaction, CMA CGM, through CMA Terminals Atlantic SA, will launch a mandatory tender offer to acquire all outstanding shares of Santos Brasil for the same price and conditions paid to Opportunity, duly adjusted by the SELIC rate until the financial settlement of the Tender Offer, said a release. Source : Our Correspondent
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