Following approval from Brazilian regulators, the transport and logistics holding company CMA CGM has completed the acquisition of 47.9% of the shares of Santos Brasil Participações from funds engaged in asset and risk management, CTS reports.
Thus, CMA CGM Group now controls 51% of the shares of Santos Brasil, which gives it the status of a major shareholder. This share includes not only the shares acquired on April 24, 2025, but also 3.1%, which was acquired by one of CMA CGM’s subsidiaries on September 30, 2024.
Back in September 2024, the company announced through its CMA Terminals Atlantic division its intention to make a mandatory tender offer to buy out all outstanding shares of Santos Brasil at a price adjusted in accordance with Brazil’s base interest rate — SELIC.
In addition, CMA CGM intends to transfer Santos Brasil’s registration to category «B» and remove the company from the premium exchange segment Novo Mercado B3.
An extraordinary shareholders’ meeting to select a valuer is scheduled for April 29, 2025.
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