French shipping giant CMA CGM has solidified its presence in South America by acquiring a controlling 51% stake in Santos Brasil Participações S/A, the operator of Tecon Santos—the largest container terminal in the region. The deal, finalized on April 24, 2025, involved the purchase of approximately 47.9% of shares from Opportunity Funds, complemented by a 3.1% stake previously acquired by a CMA CGM affiliate in September 2024 .
Tecon Santos, located in the Port of Santos, handles about 40% of Brazil’s containerized cargo. The terminal boasts a current capacity of 2.5 million twenty-foot equivalent units (TEUs), with plans to expand to 3 million TEUs. It features three berths capable of accommodating vessels up to 14,000 TEUs and is recognized as the most efficient terminal in the port .
Following the acquisition, CMA CGM announced plans to launch a mandatory tender offer for the remaining shares of Santos Brasil through its subsidiary, CMA Terminals Atlantic SA. The offer will match the price paid to Opportunity Funds, adjusted by Brazil’s SELIC interest rate .
This strategic move aligns with CMA CGM’s broader expansion efforts in Brazil. The company has been active in the Brazilian maritime sector, including the ac.quisition of Mercosul Lines and the extension of its logistics arm, CEVA Logistics, into the Brazilian market
CMA CGM’s investment in Santos Brasil underscores its commitment to enhancing port infrastructure and logistics capabilities in Brazil, aiming to support the country’s economic growth and strengthen its own position in the global shipping industry.
