CMPort sells part of Brazilian terminal
China Merchants Port Holdings Co., Ltd. (CMPort) has sold part of its majority share in a Brazilian container terminal to two Chinese funds.
The company has transferred a 22.55% equity share of the Terminal De Containeres de Paranaguá (TCP) to China-Portugal Cooperation Development Fund (CPD Fund), managed by China-Africa Development Fund (CAD Fund); and China-LAC Cooperation Fund (CLAC Fund). CMPort acquired a 90% share of TCP on 4th September 2017.
CMPort said that the equity transfer “is the first time for CMPort to bring in strategic investors for its overseas existing terminal assets”.
It added: “This strategic cooperation further optimized TCP’s current equity structure and cements CMPort future development of port infrastructure in Latin America region and worldwide together with strategic investors.”
CMPort has been negotiating on TCP’s share transfer with CPD Fund and CLAC Fund in the 2nd half of 2018, the parties signed a share transfer agreement at the end of 2019.
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