China Merchants Port to buy 90% of Brazilian port operator for $924m

China Merchants Port to buy 90% of Brazilian port operator for $924m

A port in Haikou, a city in China's Hainan province. Photo: Pixabay

China Merchants Port Holdings Co Ltd said on Monday it would buy 90 percent of Brazilian port facilities operator TCP Participações S.A. for HK$7.23 billion ($924 million), as it aims to expand into Latin America.

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