The French shipping group CMA CGM has signed an agreement to acquire from funds and entities managed by the Opportunity, one of Brazil's leading fund managers, 48% approximately of the share capital of the port and logistics group Brazilian Santos Brasil Participações S/A that operates among other things, Tecon Santos, the main container terminal in the port of Santos which alone handles 40% of port traffic containerized of Brazil. In particular, Santos Brasil manages in national ports three container terminals (Tecon Santos in Santos, Tecon Imbituba a Imbitubae Tecon Vila do Conde a Vila do Conde), a ro-ro terminal in Santos, one multipurpose terminal in Imbituba and three liquid bulk terminal in the port of Itaqui. In the twelve months ended on 30 June, the Brazilian group recorded revenues of 2.55 billion reais ($458 million).

The transaction is expected to be completed in first quarter of 2025, after which CMA CGM will launch a takeover bid with the aim of acquiring the stake remaining capital of Santos Brasil Participações.

Tecon Santos, under a concession contract that will expire in 2047, the homonymous terminal for containers of the port of Santos which has an annual traffic capacity of 2.5 million TEUs and three quays capable of accommodating 14,000 TEU container ship. The Brazilian group recalled that Tecon Santos has been operating for 27 years and has invested in it during this time over nine billion reals.

The CMA CGM group has been present in Brazil for more than 20 years where it currently has eight offices and a staff of over 10 thousand people. In this period of time, the French company has created several acquisitions in the South American nation including the most significant, before Santos Brasil, was that of the Mercosul shipping company completed in 2017 ( of the 11th December 2017). Currently, CMA CGM and Mercosul operate ten weekly scheduled services to and from 14 Brazilian ports. Also CEVA Logistics, the logistics subsidiary of the French group, is present in Brazil with 7,500 employees and warehouses in 36 locations of the country.