China Merchants Ports Holdings completes acquisition of Brazilian group TCP Participações
The China Merchants Ports Holdings group in Brasilia signed a contract for the acquisition of 90% of TCP Participações, the group that manages the container terminal of Paranaguá, in the State of Paraná, during a Panel on National Infrastructure Development organised by the Parliamentary Front for Transport and Storage Logistics (Frenlog).
The deal, completed at the BRICS summit meeting in Xiamen, in China’s Fujian province, includes TCP Log, a 100% controlled company owned by TCP Participações and which sells market logistics solutions for Brazilian importers and exporters.
The Paranaguá container terminal, one of the largest in Brazil, has an annual processing capacity of 1.5 million TEUs (Twenty-foot Equivalent Units) and has begun an expansion project to process 2.4 million TEU per year.
Among the products that are shipped from this terminal, which handles about 10% of the total number of TEU in Brazil, are frozen meats, for which it is the leader in the country, wood, components for the automotive industry, chemicals, and electronic equipment.
The CMPort group operates ports in China and Hong Kong, as well as in other countries, including Sri Lanka, Djibouti, and the United States, and the current deal is the beginning of its expansion into Latin America.