Equity firm Advent acquires Brazil terminal

Advent International, a private equity firm, has agreed to acquire 50 percent of the capital stock of TCP - Terminal de Conteineres de Paranagua (TCP), Brazil's third-largest container port terminal, reported The Pac Banker.

The value of the transaction and other financial terms were not disclosed.

All of TCP's current shareholders will retain ownership positions in the company.

Advent's investment, which is subject to regulatory approval, will enable TCP to pursue an aggressive expansion plan aimed at increasing its terminal capacity by approximately 70 percent through the construction of a third berth and purchase of new equipment.

Grup Maritim TCB, a port terminal owner and operator, which currently supports TCP's operations, will continue to provide advisory services to the company in this new phase of its development.

TCP operates the container terminal at the Port of Paranagua, the second-largest port in Brazil, with current activity of approximately 675,000 TEUs per year and a total area of more than 320,000 sq m. The company maintains a prominent position in international logistics, as it is a port of call for most container ships operating international and cabotage lines along the Brazilian coast. TCP's services include loading and unloading of ships, bonded warehouses, monitoring of refrigerated containers (reefers) and container stuffing.
(Source:www.cargonewsasia.com)