CMA CGM to acquire 48% of Santos Brasil for $1.2 bn, plans takeover bid

24 Sep 2024 CW Team

French shipping giant CMA CGM has reached an agreement to acquire a 47.6 per cent stake in the port terminal operator Santos Brasil for $1.2 billion, with plans to initiate a takeover bid for the remaining shares, according to a securities filing by the Brazilian firm.

As part of the deal, CMA CGM will purchase approximately 215 million shares and nearly 40 million Global Depositary Receipts of Santos Brasil from Brazilian asset manager Opportunity at a price of 15.30 reais each, the filing stated.

This price represents a 20% premium over the closing price of 12.71 reais for Santos Brasil shares.

Additionally, the French company has committed to launching a tender offer for the remaining shares of Santos Brasil at the same price, as indicated in the filing.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..