Terminal Link is set to buy the Brazilian terminal operator Libra Terminais, according to Brazilian media reports and a local source familiar with the matter.
Terminal Link is jointly owned by CMA CGM (51%) and China Merchant Holdings International (49%) and both companies have individually been trying to buy Brazilian terminals for several years.
China Merchants recently bought 90% of Terminal de Conteineres de Paranagua (TCP) and CMA CGM nearly bought Sepetiba Tecon in 2015 but the asking price was too much.
Libra Terminais runs terminals in Santos (near Sao Paolo), Rio de Janiero and the Southern port of Imbituba.
China Merchants Holdings International is a subsidiary of the China Merchants group – which is owned by the Chinese state. CMA CGM is a private company, majority owned by the French-Lebanese Saadé family.