CMA CGM Group recently announced that, after obtaining regulatory approval from Brazilian authorities, it has completed the acquisition of approximately 47.9% of Santos Brasil Participações S.A. (“Santos Brasil”) from funds managed by Opportunity. The transaction was completed at a price of 13.60 Brazilian Reais per share.

As a result, CMA CGM Group now holds 51% of Santos Brasil’s shares, becoming its controlling shareholder.

As announced on September 23, 2024, following the completion of this transaction, CMA CGM Group, through CMA Terminals Atlantic SA, will launch a mandatory tender offer to acquire all outstanding shares of Santos Brasil under the same price and conditions offered to Opportunity, with appropriate adjustments based on the SELIC rate until the financial settlement of the offer. CMA CGM Group also intends to reclassify the company’s registration with CVM to "Class B," thereby delisting Santos Brasil from the Novo Mercado segment of B3.

The transaction, valued at approximately USD 2 billion, is expected to accelerate investments in Santos Brasil’s terminals, aiming to increase joint capacity and enhance service quality for Brazilian exporters and importers. This acquisition aligns with CMA CGM’s global port development strategy and strengthens its position as a leading global multi-user terminal operator, with investments covering around 60 terminals worldwide.

Santos Brasil operates Tecon Santos, the largest container terminal in South America at the Port of Santos, handling 40% of Brazil's container throughput. The terminal currently has a capacity of 2.5 million TEUs, with plans to expand to 3 million TEUs. The company also owns eight strategic assets across Brazil, including facilities for container, liquid, and vehicle handling, as well as logistics services.