China Merchants Port to acquire 90% of Paranagua terminal

China Merchants Port Holdings (CM Port) will pay R$2.9b (US$925m) for a 90% stake in TCP Participações, which manages Brazilian terminal Terminal de Contêineres de Paranaguá, one of Brazil’s largest terminals and logistics company TCP Log.

The agreement marks the first investment by CM Port in Latin America and one of the the biggest transactions ever announced in the container terminal sector in the region, valuing 100% of TCP’s shares at R$3.2bn (US$1bn).

Dr Bai Jingtao, managing director of CMPort, said: “CM Port has rapidly expanded its overseas presence and understands that the entry into Latin America, especially Brazil, is crucial for the global expansion of its terminal network.