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

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.

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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