CMA CGM Group Completes Acquisition of Controlling Stake in Santos Brasil

CMA CGM Group Completes Acquisition of Controlling Stake in Santos Brasil

(IN BRIEF) CMA CGM Group has completed its acquisition of 47.9% of Santos Brasil, increasing its stake to 51% and becoming the controlling shareholder. Following the acquisition, CMA CGM will launch a mandatory tender offer for the remaining shares, with conditions based on the price paid for the Opportunity transaction, adjusted by the SELIC rate. CMA CGM also plans to convert Santos Brasil’s registration and exit from the Novo Mercado segment of B3. The Extraordinary General Meeting to appoint an appraiser will be held on April 29, 2025.

(PRESS RELEASE) MARSEILLE, 25-Apr-2025 — /EuropaWire/ — CMA CGM Group, a global leader in integrated maritime, land, air, and logistics solutions, has successfully completed the acquisition of approximately 47.9% of Santos Brasil Participações S/A (“Santos Brasil”) from Opportunity-managed funds, following the receipt of regulatory approvals from Brazilian authorities.

The transaction, finalized at a price of BRL 13.60 per share, now brings CMA CGM’s total stake in Santos Brasil to 51%, making it the controlling shareholder of the company.

As previously announced on September 23, 2024, following the completion of this acquisition, CMA CGM, through its subsidiary CMA Terminals Atlantic SA, will initiate a mandatory tender offer for all remaining outstanding shares of Santos Brasil. This offer will be made at the same price and under the same conditions as those paid to Opportunity, adjusted by the SELIC rate until the financial settlement of the tender offer. Furthermore, CMA CGM plans to convert Santos Brasil’s CVM registration to category “B” and delist the company from the Novo Mercado segment of B3.

The decision to initiate the delisting and registration conversion will only be filed if the price determined by an independent appraiser is equal to or less than the price paid for the shares in the transaction with Opportunity, adjusted for the SELIC rate. CMA Terminals Atlantic SA may choose to waive this condition at its discretion before filing the tender offer with the CVM.

An Extraordinary General Meeting of Santos Brasil’s shareholders will be convened on April 29, 2025, to appoint the appraiser for the company’s share valuation.

For additional details regarding the transaction, please visit the dedicated website: CMA CGM Santos Brasil Transaction

Media Contact:

media@cma-cgm.com

SOURCE: CMA CGM