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Brazil: CADE to look into Maersk sale of Mercosul shipping co.

By  |  April 11, 2017

International shipping giant Maersk has presented Brazil’s competition regulator, CADE, with its plan to sell off it’s Brazil-based shipping subsidiary, Mercosul Line – one of the country’s three top competitors – as it seeks to avoid controlling too much of the local market, preventing the multinational’s other plans for the region.

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    Maersk is deep into the process of acquiring its German rival Hamburg Sud. Hamburg Sud, in turn, is the owner of Brazil’s leading shipping and port-handling company, Aliança. Together, Aliança and Mercosul control up to 89% of the country’s total shipping capacity.

    Sources close to the company have reported that Maersk’s sale is aimed at guaranteeing a swift approval from CADE for its Hamburg Sud deal. The sale “will also ensure that Brazil’s shipping sector remains competitive, with customers benefitting from a wider range of actors.” Maersk has refused to reveal details of the sale, or any possible interested parties.

    Full Content: Mundo Marítimo

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