Competition regulator approves APM Terminals purchase in Suape although complications remain

Brazil’s Administrative Council for Economic Defence (Cade), which acts as competition regulator, has approved the acquisition of the entire share capital of Atlântico Sul by APM Terminals (APMT), potentially allowing the operator to run a container terminal in Suape.

However, there are further complications in the case and another investigation will take place, focusing on whether ‘gun jumping’ occurred in the bidding process, allowing the parties to benefit from exchanges of sensitive information.

APMT had won a judicial auction in July last year for the acquisition of an Isolated Production Unit (UPI-B Cais Sul) of the Atlântico Sul Shipyard, located in the Suape Port Complex, where it intends to build a greenfield container terminal.