French shipping giant CMA CGM has officially become the majority shareholder of Santos Brasil Participações S/A, a major multi-terminal operator in Brazil, following regulatory approvals from relevant Brazilian authorities. This acquisition signifies a significant expansion of CMA CGM's terminal operations in South America. The transaction involved the purchase of approximately 47.9% of Santos Brasil shares. When combined with the 3.1% stake previously acquired by a CMA CGM affiliate in September 2024, CMA CGM now holds a controlling 51% stake in Santos Brasil.
Santos Brasil operates South America's largest container terminal, Tecon Santos, located at the Port of Santos. The terminal currently has a capacity of 2.5 million TEUs and is planned to expand to 3 million TEUs. It handles 40% of Brazil's overall container volume and is considered the most efficient terminal in the Port of Santos. In addition to the container terminal, Santos Brasil also manages seven other strategic assets across Brazil, including liquid and vehicle handling facilities, as well as logistics services.
This acquisition aligns with CMA CGM's global port development strategy and strengthens its position as a leading global multi-user terminal operator. The company has been operating in Brazil for over 20 years and has developed its activities both organically and through acquisitions. CMA CGM plans to invest over $2 billion to expand its operations in Brazil, supporting the development of Santos and other ports and integrating the operations with its group, including CEVA Logistics. The acquisition comes at a time when the Port of Santos is reporting strong growth, with March 2025 marking the third consecutive month of increases. The port handled 460,000 TEUs in March, the busiest March on record, resulting in a nearly 7% increase for the first quarter of 2025, with a total of 1.3 million TEUs handled. The federal government has also committed to investing $2.2 million to improve access to the Santos port complex, both by land and sea, including new roads and the deepening of the shipping channel.
The Port of Santos is a key contributor to Brazil's foreign trade, accounting for nearly 30% of the country's trade flow in March 2025. China is the main trading partner, accounting for over 28% of the volume in the port. Santos is a major port for soybeans and other agricultural commodities, as well as gasoline and the fuel sector.