China Merchants buys Brazil's TCP

Latin American container terminal deal fuels company's global plans

China Merchants Port Holdings Co Ltd has completed the acquisition of the second largest container terminal in Brazil, the biggest port acquisition ever made in Brazil or Latin America in general.

The $924 million transaction marks the first merger and acquisition CMPort made in Latin America and its first M&A in mature overseas port assets with a controlling stake. It also means CMPort now has a presence in five continents, an important step in becoming a top in the port service provider on a global scale.