China Merchants Port Holdings has planted a new flag in Brazil with a takeover of Brazilian port facilities operator TCP Participacoes.
The Hong Kong-listed company has paid HKD 7.23bn ($924m) for a 90% slice of the facility, based around 300km from Sao Paulo.
China Merchant Port says it has been exploring new growth driving opportunities with the latest deal expanding its business to the Latin America region and further consolidating its position globally.
