China Begins Negotiations to Acquire 70% Stake in Porto do Açu Terminal; Deal Exceeds US$ 714 Million

Aiming to consolidate its presence in South America’s port infrastructure, China has initiated negotiations to acquire a significant 70% stake in Vast Infraestrutura, the company responsible for one of Brazil’s most strategic terminals for oil exports. According to journalist Lauro Jardim, the deal is valued at around US$ 714 million, which amounts to nearly 4 billion reais.

The transaction is being carried out through China Merchants Port Holdings (CMPORT), a subsidiary of the state-owned China Merchants Group (CMG). At the end of February, CMPORT announced the signing of an agreement to acquire a stake in Vast Infraestrutura, a company controlled by Prumo Logística, the holding company responsible for developing Porto do Açu.

The deal still requires approval from regulatory authorities, but it is already drawing attention. The reason is simple: the terminal operated by Vast is the only one in South America capable of receiving VLCCs (Very Large Crude Carriers), which are essential for transporting large volumes of oil.

Currently, Porto do Açu handles about 560,000 barrels per day, with a licensed capacity of up to 1.2 million barrels daily. Although Vast is only one of the companies within the complex, it plays a strategic role in Brazil’s oil export infrastructure.

In a statement to Manchete RJ, Prumo Logística confirmed the completion of the terms and conditions phase of the negotiation but emphasized that the transaction with China Merchants Port has not yet been finalized.

Prumo Logística clarifies that, contrary to what some media outlets have reported, it has not yet completed the transaction with China Merchants Port for a potential sale of a stake in Vast Infraestrutura, a Prumo subsidiary and owner of the oil terminal at Porto do Açu. As previously disclosed at the beginning of the year, Prumo has concluded the negotiation of terms and conditions for the transaction, which is proceeding according to schedule and remains subject to the fulfillment of precedent conditions. This initiative aligns with Prumo’s strategy to establish partnerships with global players for the joint development of business at Porto do Açu. A subsidiary of China Merchants Group, China Merchants Port is a world-leading port developer, investor, and operator, including major hubs along China’s coastline.”

The acquisition of a stake in Vast is part of China’s broader strategy to solidify its presence in ports across the region. In 2018, CMPORT had already acquired the Container Terminal in Paranaguá, the largest in South America. Additionally, the group is involved in projects at the Port of Santos and in the construction of a new terminal in Maranhão.

Source: Manchete RJ

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