Maersk Line officially sold off Brazilian cabotage specialist Mercosul Line to CMA CGM on Friday.
Maersk Line, the world’s largest ocean carrier, officially sold off Brazilian cabotage specialist Mercosul Line to CMA CGM, Maersk and CMA CGM reported Friday.
Financial terms of the deal were not disclosed.
The transaction was subject to Brazilian regulatory approval and the closing of Maersk’s acquisition of Hamburg Süd, both of which have now been finalized, Maersk said.
Maersk officially closed on its 3.7 billion euro (U.S. $4.35 billion) purchase of Hamburg Süd from the German conglomerate Oetker Group on Nov. 30.
Back in April, Maersk said it would be putting Mercosul up for sale in a preemptive move aimed at satisfying any potential competition concerns from Brazil’s Conselho Administrativo de Defesa Economica (CADE). CMA CGM announced in June its intentions to snatch up Mercosul.
Despite selling off Mercosul, Maersk has gained a foothold in the Brazilian cabotage market through its Hamburg Süd acquisition, since, according to Maersk, Hamburg Süd’s subsidiary line, Alianca, is Brazil’s leading cabotage carrier.
Mercosul which was established in 1996 and acquired by Maersk in 2006, employs 130 land based staff and 160 seafarers, Maersk said.
With four, 2,500-TEU vessels, Mercosul serves more than 12 ports, according to CMA CGM.
“The activity of Mercosul Line is part of CMA CGM’s core strategy, which is to develop intra-regional sea transportation links and complementary services such as logistics,” CMA CGM said.
CMA CGM finalizes Mercosul acquisition from Maersk
