SOUTH AMERICA

MSC negotiates Montevideo stake

9 years ago

At the Port of Montevideo, in Uruguay, talks are reported to be under way between MSC and Katoen Natie with a view to the acquisition by the former of a majority stake in the latter’s box handling facility, Terminal Cuenca del Plata (TCP).

Up for grabs is an 80% shareholding in TCP, with ANP holding the remaining 20% of the equity.

Alberto Díaz, president of the National Ports Authority (ANP), says he is following developments with interest and without prejudice. However, of clear concern is the fact that MSC is a partner in the Chilean company Grupo Ultramar, which is the owner of Montecon, the only other container handling operator in the port.

While TCP has a dedicated container terminal in Montevideo, Montecon operates on the public quays. TCP has long complained of the presence of Montecon, since it views terms and conditions in its own concession as effectively giving the it the right to this traffic in the port.