China Merchants given go-ahead to buy TCP Participações

TCP operates the container terminal concession in the Port of Paranaguá (pictured) Photo: Deyvid Aleksandr Raffo Setti (idealizador) e Eloy Olindo Setti (executor)/Wikimedia Commons/CC BY-SA 3.0 TCP operates the container terminal concession in the Port of Paranaguá (pictured) Photo: Deyvid Aleksandr Raffo Setti (idealizador) e Eloy Olindo Setti (executor)/Wikimedia Commons/CC BY-SA 3.0

In Brazil, the competition authority Conselho Administrativo de Defesa Econômica (CADE) - the Administrative Council for Economic Defense - has given its unrestricted approval to the purchase by China Merchants Port Holdings (CMPH) of port operator TCP Participações. The announcement was made in the Official State News Publication.

According to CADE, the purchase does not imply any horizontal overlap or effective vertical integration and therefore does not raise any concerns from the point of view of competition.

CMPH announced its decision to acquire a 90% stake in TCP in September for around $887m. TCP is known to be Brazil’s most profitable container terminal operation. The Paraná-based company, which handles containers at the Port of Paranaguá, was seen as a way for CMPH to expand its operations in Latin America. It is also a significant move on behalf of international investors, who have mostly so far shied away from buying assets in Brazil given problems with both the economy and with visible corruption amongst politicians.

LATEST PRESS RELEASES

Successful participation and presentation at exhibition in Beira, Mozambique

The exhibition series ‘Intermodal Africa’ organized by Transport Events is always a good possibility... Read more

Protectors of Esbjerg's new East Port quay

The German based Headquarters of ShibataFenderTeam recently completed an order for the Port of Esbje... Read more

Aquaplot joins Technology Transfer Programme of European Space Agency

Start-up for ocean route planning enters ESA’s Business Incubation Centre (BIC) Read more

AMRO Increases Scope To Cover The GCC Region

AMRO, a specialist marine equipment and services provider, is proud to announce that they will now c... Read more

SAFE AND SECURE

Ninth Consecutive “Excellent” Coast Guard Security Assessment Awarded to Port of Baltimore Read more

Being part of the most important infrastructure project in Costa Rica

In 2017, the US office of ShibataFenderTeam delivered 55 nos. CSS 1450 Cell Fender Systems (G2.0), 8... Read more

View all