French shipping group CMA CGM has received approval from Brazilian regulators to acquire a 51% stake in Brazilian port operator Santos Brasil Participações. The transaction includes the acquisition of 47.9% of the shares in Santos Brasil from funds managed by Opportunity and a 3.1% stake through its subsidiary in September 2024.

Santos Brasil operates Tecon Santos, the largest container terminal in South America, which handles approximately 2.5 million TEU containers annually, accounting for approximately 40% of Brazil's national container traffic, and plans to expand to 3 million TEU soon.

In addition, Santos Brasil owns eight significant logistics assets across Brazil, including container, liquid, and vehicle handling facilities, as well as logistics services. CMA CGM Chief Executive Officer Rodolphe Saadé said the acquisition demonstrated the group's long-term commitment to the Brazilian economy.