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

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

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.

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.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?