FRENCH shipping giant CMA CGM has finalized a deal to purchase a 48 per cent stake in Brazil's largest container terminal, Tecon Santos, from Opportunity investment group for US$2.4 billion, reports Montevideo's MercoPress.

This acquisition solidifies CMA CGM's position as a major player in Latin American logistics, as the terminal handles 17 per cent of Brazil's container traffic.

Pending regulatory approvals, CMA CGM plans to take complete control of the terminal by the end of the year as part of its ongoing global expansion strategy.