China Merchants given go-ahead to buy TCP Participações
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
In 2016 we were awarded with the supply of fender systems for the entire new port of Turkmenistan's ... Read more
SOGET and Microsoft: a strategic partnership for a secure digitization of ports in France and worldwide
SOGET, world specialist in Port Community Systems (PCS), and Microsoft, world leader in technology, ... Read more
The new Echoscope® 4G Performance Pack Upgrade presents an opportunity for our existing customers to... Read more
Coda Octopus Products Selected to Collaborate on One of Five Premier Scottish-Japanese "Joint Ocean Innovation" Strategic Subsea Projects
The Nippon Foundation and Scottish Enterprise R&D Program provides funding of up to $32 million over... Read more
ShibataFenderTeam permanently sustains and develops its agent network. Read more