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Advent Pays $500 Million for Stake in Brazilian Port
Advent International has agreed to acquire a 50 percent stake in Terminal de Conteineres de Paranagua S/A (TCP), Brazil’s third-largest container port terminal. The value of the transaction and other financial terms were not disclosed, but a report by Reuters puts the deal at $500 million.
According to a statement from the firm, the private equity firm’s investment, which is subject to regulatory approval, will enable TCP to expand and increase its terminal capacity by approximately 70 percent.
Founded in 1998, TCP operates the container terminal at the Port of Paranagua, with current activity of approximately 675,000 TEUs (20-foot equivalent units) per year and a total area of more than 320,000 square meters.
Advent’s investment will enable TCP to expand its capacity and improve product