CADE approves Intermarítima’s deal with Gerdau maritime terminal

CADE (the general superintendence of the administrative council for economic defense) endorsed a deal through which Intermarítima Portos e Logística will acquire 100% of the share capital of the company to be incorporated by Gerdau, which will own all assets necessary for the operation of the private-use port terminal, under the tenure regime. This measure involves a port located in Salvador called the Gerdau maritime terminal (TMG).

Intermarítima is a Brazilian logistics and port operator which focuses on operations in the northeast of Brazil. Gerdau Aços Longos manufactures long and flat carbon steels, in addition to special long steels.

TMG was developed and is currently managed by Gerdau to handle the storage of cargo destined for – or coming from – waterway transport. In operational terms, Intermarítima provides ancillary services that integrate TMG’s port operation activities.

Members of these companies stated to CADE  that the operation is part of the buyer’s strategy to serve the market of imported solid-bulk shippers in the Todos os Santos bay region, who currently face long waiting lines at the Port of Aratu, and who do not have an infrastructure specialized in bulk in the Port of Salvador.

Source: Valor Econômico

To read the full original article, visit the link:

https://valor.globo.com/empresas/noticia/2021/08/09/cade-da-aval-para-intermaritima-concluir-negocio-com-a-gerdau-em-porto.ghtml

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