CMA CGM Completes First Stage of Santos Brasil Acquisition

French shipping group CMA CGM has successfully closed the initial phase of its planned acquisition of Santos Brasil, a prominent multi-terminal operator in Brazil that includes the Port of Santos. The acquisition process began in September 2024 when CMA CGM expressed its intention to acquire the company by first purchasing shares from an institutional fund manager and subsequently initiating a tender offer for the remaining shares.

This strategic move by CMA CGM aligns with the growing trend of major shipping companies investing in South America, particularly Brazil. In a bid to expand its operations in Brazil, CMA CGM is set to invest over $2 billion. Other industry players such as MSC, Maersk, and DP World have also announced plans to bolster their presence in the Brazilian market.

CMA CGM has successfully acquired approximately 48 percent of the shares in Santos Brasil from funds managed by Opportunity, a leading asset manager in Brazil, for a reported sum of around $1.1 billion. When combined with a three percent stake held by a CMA CGM affiliate, the company now holds a controlling interest of 51 percent in Santos Brasil.

A second stage tender will be launched once an independent appraisal of the remaining shares is completed.

Expanding Operations and Enhancing Efficiency

Santos Brasil operates five terminals, including the largest container terminal in Brazil and South America, the Tecon Santos Terminal in Santos. With a current capacity of 2.5 million TEU, the terminal is slated for expansion to accommodate 3 million TEU and can simultaneously berth three 14,000 TEU vessels. CMA CGM lauds the terminal as the most efficient in the Port of Santos, handling 40 percent of Brazil’s total container volume.

By acquiring Santos Brasil, CMA CGM is bolstering its 20-year presence in Brazil and reinforcing its strategy to grow terminal operations and logistics segments. The company aims to support the development of Santos and other ports while integrating operations with its group, including CEVA Logistics.

Positive Growth Trajectory

Santos continues to experience robust growth, with the Port Authority reporting a third consecutive month of increases in March, marking a record-breaking month with 460,000 TEU handled. This positive performance contributed to a nearly seven percent increase in the first quarter of 2025, totaling 1.3 million TEU processed at the port.

The Brazilian federal government has committed $2.2 million to enhance access to the Santos port complex through infrastructure improvements, including road upgrades and deepening of the shipping channel.

Key Player in Brazil’s Trade Landscape

The Port of Santos plays a pivotal role in Brazil’s foreign trade, accounting for 30 percent of the country’s trade flow in March. China stands out as the primary trading partner, representing over 28 percent of the port’s trade volume. In addition to containers, Santos handles significant volumes of agricultural commodities, gasoline, and other fuel products.