PARIS: French shipping giant CMA CGM SA, backed by the billionaire Saade family, is vying to take full control of Brazilian ports operator Santos Brasil Participacoes SA in a US$2bil move to bolster its presence in the fast-growing region.
The world’s third-largest container line reached a cash deal to buy 48% of Santos Brasil from Opportunity Asset Management Ltda for around 6.3 billion reais and plans to launch a public offer on the remaining shares in the coming months, according to a statement on Monday.
