CMA CGM and Maersk Line had on June 13, 2017 announced a binding agreement whereby CMA CGM would acquire Mercosul Line. Mercosul is a leading player in Brazil’s domestic container shipping market, with a fleet of four container vessels and around 290 people employed.
The Mercosul binding agreement was subject to Brazilian regulatory approval and the closing of Maersk’s Hamburg Süd acquisition, both of which have now been finalised.
The transfer of ownership between the two companies was completed last week, marking the closing of the acquisition.
“Mercosul is a highly respected and well-run company with an excellent fleet and customer value proposition. It has been a valued brand in our portfolio and we wish the company and its dedicated people the best in the future,” said Mr Søren Toft, Chief Operating Officer, A. P. Moller-Maersk.
The transaction will ensure that the cabotage sector in Brazil remains competitive and that customers continue to benefit from a comprehensive choice of carriers.
Maersk Line is strengthening its presence and strong value proposition in the sector through Hamburg Süd’s subsidiary, Aliança, Brazil’s leading cabotage carrier.
The parties have decided not to publicly disclose the price of the sale.
