Maersk Line completes the divestment of Mercosul Line
CMA CGM and Maersk Line on 13 June 2017 announced a binding agreement whereby CMA CGM would acquire Mercosul Line, Maersk said in its press release. Mercosul is a leading player in Brazil's domestic container shipping market, with a fleet of four container vessels and around 290 people employed.
The Mercosul binding agreement was subject to Brazilian regulatory approval and the closing of Maersk's Hamburg Süd acquisition, both of which have now been finalised.
Today the transfer of ownership between the two companies was completed, marking the closing of the acquisition.
"Mercosul is a highly respected and well-run company with an excellent fleet and customer value proposition. It has been a valued brand in our portfolio and we wish the company and its dedicated people the best in the future," says Søren Toft, Chief Operating Officer, A.P. Moller - Maersk.
The transaction will ensure that the cabotage sector in Brazil remains competitive and that customers continue to benefit from a comprehensive choice of carriers.
Maersk Line is strengthening its presence and strong value proposition in the sector through Hamburg Süd's subsidiary, Aliança, Brazil's leading cabotage carrier.
The parties have decided not to publicly disclose the price of the sale.
About Mercosul Line
Launched in 1996 and acquired by Maersk in 2006, Mercosul Line is a specialist in the Brazilian internal transport market. Its fleet of four ships operates in Brazil and South America. Mercosul employs 130 land based staff and 160 seafarers. The company reported revenues of 128 million USD in 2016 and offers strong profitability.
About Maersk Line
Maersk Line is the world's largest container shipping company, known for reliable, flexible and eco-efficient services. Part of A.P. Moller - Maersk A/S, headquartered in Copenhagen, Denmark, Maersk Line operates 773 container vessels providing ocean transportation to all corners of the world.
Every day, 7,600 Maersk Line seafarers and 22,600 land-based employees at 306 offices in 114 countries share their expertise with customers around the world to optimise their supply chains, maximise their distribution networks and most of all realise their business potential.
