BRZ Investment Group has acquired the 50% stake in Terminal Santa Catarina (TESC) in the Brazilian Port of São Francisco do Sul from Dragados. The latter, now known as Turia Port Investments and owned by JP Morgan, has been divesting its non-Spanish port interests since early 2009 and TESC is one of the last to go.
BRZ already had a 12.5% share of Portonovo, which still controls 50% of TESC. Together with WRC – another Portonovoowned stevedoring company that works at São Francisco’s public berths – TESC handles 250,000-300,000 TEU annually.
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This complete item is approximately 300 words in length, and appeared in the November 2010 issue of WorldCargo News, on page 8. To access this issue download the PDF here.
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