FRENCH shipping giant CMA CGM's port operator Terminal Link, jointly owned with Hong Kong's China Merchants, appears near the point of purchase of Libra Terminais in Brazil.
CMA CGM shifted extra deepsea services to Libra Terminais' two terminals last year - T-35 and T-37, the first privatised terminal in Brazil, reported IHS Media.
The plan was to establish a presence in Brazil, said the report. CMA CGM has been trying to do this for 15 years, in Santos, Rio de Janeiro, Sepetiba, Suape, and Vila do Conde.
CMA CGM nearly bought Sepetiba Tecon in 2015, but owner Benjamin Steinbruch'a BRL1 billion (US$311.9 million) asking price was too high.
Since then China Merchants bought 90 per cent of Terminal de Conteineres de Paranagua (TCP) for BRL2.9 billion in Parana state.
Terminal Link has hired Ernst & Young to carry out due diligence in the Libra Terminais case, according to the Brazilian newspaper Valor. Lazard is acting on behalf of the Borges Torrealba family that owns the two Santos facilities, as well as another box terminal in Rio de Janeiro - Libra Rio - which is also included in the package.
Sources: HKSG GROUP MEDIA
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