French Shipping Giant CMA CGM Acquires Santos Brasil, Operator of LatAm’s Largest Port

In a landmark deal, French shipping giant CMA CGM has acquired Santos Brasil for R$6.3 billion ($1.15 billion). The total transaction could reach R$13.2 billion ($2.4 billion) if all shareholders accept the offer.

CMA CGM purchased a 48% stake from Opportunity, paying a 20.4% premium over the stock price. Santos Brasil’s shares closed at R$12.71 on September 20, valuing the company at R$11 billion ($2 billion).

The agreement includes additional benefits for shareholders. They will receive a dividend of at least R$0.50 per share by year-end and a capital reduction of R$1.85 per share in November.

Santos Brasil’s financial performance has been strong. In the first half of 2025, the company reported a net revenue of R$1.3 billion ($0.24 billion).

In addition, it also recorded an EBITDA of R$659 million ($119.82 million) and a net profit of R$319.5 million ($58.09 million).

This acquisition strengthens CMA CGM‘s position in Brazil’s port operations, as Santos Brasil handles 16% of all container traffic in the country. The deal’s completion is subject to approval from Brazil’s antitrust regulator, CADE.

Background

CMA CGM, founded in 1978, has grown to become the world’s third-largest container shipping company. The company operates in 160 countries with a fleet of 620 vessels and serves 420 of the world’s 521 commercial ports.

Santos Brasil is a leading Brazilian logistics company specializing in container operations and port management.

The Port of Santos, where Santos Brazil operates, is the largest port in Latin America and handles a significant portion of Brazil’s exports and imports.

CMA CGM has been expanding its global presence through strategic acquisitions and investments in port operations.

The shipping industry has been experiencing consolidation in recent years, with larger companies acquiring smaller operators to increase market share.

Brazil’s port sector has undergone privatization efforts since the 1990s, attracting foreign investment and improving operational efficiency.

The acquisition aligns with CMA CGM’s strategy to strengthen its position in emerging markets and enhance its end-to-end logistics capabilities.

Santos Brasil has a history dating back to 1997 when it won the privatization bid for the Santos Container Terminal.

The global container shipping market has been facing challenges due to economic uncertainties and geopolitical tensions, making strategic acquisitions increasingly important for major players.