Shipping company CMA CGM Group, announced that it has finalized the acquisition of MERCOSUL Line from Maersk Line. MERCOSUL Line operates in Brazil’s domestic container shipping market.
The agreement for the acquisition of MERCOSUL Line is a part of a previous agreement between CMA CGM and Maersk in June, which foresees the CMA CGM’s acquisition of Mercosul Line.
With this agreement, CMA CGM aims to strengthen its service offering to South America, most notably in Brazil, a market with a strong potential for development, especially on cabotage and “door-to-door” services. This activity is part of the core strategy, which is to develop intra-regional sea transportation links and complementary services such as logistics.
The Mercosul transaction was subject to Brazilian regulatory approval and the closing of Maersk’s Hamburg Süd acquisition.
The parties have decided not to publicly disclose the price of the sale.
