Paul Hastings Advises Goldman Sachs, BNP Paribas and Itaú Unibanco in CMA Terminal’s Nearly $1 Billion Tag-Along and Delisting Tender Offer of Santos Brasil Participações

Paul Hastings LLP advised Goldman Sachs, BNP Paribas and Itaú Unibanco in connection with CMA Terminal’s combined tag-along and delisting tender offer of Santos Brasil Participações S.A. Following the offering, CMA Terminals, a subsidiary of French shipping group CMA CGM, increased its interest to a 93% stake in Santos Brasil, which has run the Port of Santos since 1997. CMA Terminals previously acquired a 48% stake in Santos Brasil in September 2024.

The deal, valued at approximately $975 million, represents one of the largest transactions in Brazil this year.

Chair of the São Paulo office Jonathan Kellner led the Paul Hastings team, which included partners Grissel Mercado, Alex Herman, Marija Pecar, Olivier Vermeulen and Marc Zerah and associates Thomas Ayres and Peter Pedrazzani.

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