CMP buys into Brazilian terminal
By Jing Shuiyu and Zou Shuo | China Daily | Updated: 2017-09-05 08:03
China Merchants Port Holdings Co Ltd announced on Monday that it had agreed to purchase 90 percent of TCP Participacoes SA, the operator of Brazil's second largest container terminal, for HK$7.23 billion ($924 million).
The move illustrates the Hong Kong-based CMPort's ambition to further expand its presence in Latin America.
According to a public filing, the investment will allow the group to further "consolidate its position globally" by boosting its market share in Latin America.
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