Cash-rich CMA CGM, the world’s third-biggest shipping group, has been expanding into new areas such as logistics and media, and on Monday said it had agreed to acquire a 48 per cent stake in Santos Brasil, with a view to ultimately taking over the group.

The French shipping group agreed to buy a 48% stake in Brazilian terminal operator Santos Brasil Participacoes and plans to acquire the remaining shares as it looks to boost its presence in the country amid increasing demand.

Santos Brasil manages 3 Container Terminals, 1 Vehicle Terminal, 1 Liquid Bulk Terminal, and 3 Logistic Facilities.

The CMA CGM Group has announced the signing of “a definitive and irrevocable agreement to acquire a c.48% stake in Santos Brasil Participações S/A (« Santos Brazil »)”, a listed Brazilian multi-terminal operator.

FRENCH shipping giant CMA CGM plans to launch a full takeover bid for port terminal operator Santos Brasil after it agreed to buy a 48 per cent stake in the company, it said on Monday (Sep 23) as it further expands its grip on global shipping infrastructure.

By Andre Romani and Gus Trompiz SAO PAULO/PARIS (Reuters) -French shipping giant CMA CGM plans to acquire port terminal operator Santos Brasil in a deal that could reach $2 billion and give it control of South America's largest container terminal,