Brazil-based Mercosul scooped up by CMA CGM
CMA CGM is taking over Mercosul Line from the Danish shipping group Maersk Line. Mercosul is one of the major players in Brazil’s domestic container shipping market.
Maersk has to make the deal in order to complete the acquisition of Hamburg Süd and fulfil the regulatory obligations to prevent a monopoly in the cabotage sector in Brazil. The Mercosul transaction is subject to Brazilian regulatory approval and the closing of Maersk’s Hamburg Süd acquisition.
At the earliest, the integration of Mercosul within CMA CGM will start at the same time as the Hamburg Süd integration, which is expected in Q4/2017. Until then, Mercosul Line will continue business as usual. The price of the deals was not disclosed. (kd)