China Merchants Port sells 22.5% stake in TCP container terminal

China Merchants Port (CMPort) sold a 22.5% stake in TCP (Paranaguá Container Terminal) to the China Portugal Cooperation Development Fund and the China-LAC Cooperation Fund.

The China Portugal Cooperation Development Fund and the China-LAC Cooperation Fund are led by the China Development Bank and the Exim Bank of China, respectively.

China Merchants acquired 90% of the capital of TCP’s container terminal in 2017 and believes that the new investors will help the company expand and bring in more infrastructure projects to the region.

The Chinese group pointed out in a published note that “this is the first time that CMPort has brought strategic investors to its existing terminals abroad. This strategic cooperation further optimizes TCP’s current capital structure and consolidates the future development of CMPort’s port infrastructure in Latin America and around the world, together with strategic investors ”.

The TCP container terminal is the second largest container terminal in Brazil, with a installed capacity of 2.4m TEU.

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