June 13, 2017 / 3:27 PM / a year ago

CMA CGM agrees to buy Brazilian line Mercosul from Maersk

PARIS, June 13 (Reuters) - Container shipping firm CMA CGM said on Tuesday it has agreed to acquire Brazil’s Mercosul Line from Denmark’s Maersk Line to boost its development in South America.

The deal followed Maersk’s decision earlier this year to sell Mercosul in order to obtain clearance in Brazil for its acquisition of German peer Hamburg Sud.

Financial details of the Mercosul deal, which is subject to the closure of Maersk’s takeover of Hamburg Sud, were not disclosed.

Mercosul has a fleet of four ships and generated $128 million in sales last year, France-based CMA CGM said in a statement. (Reporting by Gus Trompiz; Editing by Sybille de La Hamaide)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below