Maersk Line has completed the transfer of its ownership of Mercosul Line to the CMA CGM Group, marking the closing of the acquisition.

According to CMA CGM, the acquisition of the Brazilian player allows CMA CGM to strengthen its offering in Brazil and more broadly in South America, especially in cabotage and door-to-door services.

Mercosul Line was established in 1996 and serves more than 12 ports with a fleet of four 2,500 TEUs. Its network includes 130 people in offices in Santos, São Paulo, Manaus, Recife and Itajai.

A binding agreement between CMA CGM and Maersk was signed in June 2017. The agreement was subject to Brazilian regulatory approval and the closing of Maersk’s Hamburg Süd acquisition, both of which have now been finalized.

Maersk will strengthen its presence in the region through Hamburg Süd’s Brazilian subsidiary Aliança.

“Mercosul is a highly respected and well-run company with an excellent fleet and customer value proposition,” said Søren Toft, chief operating officer of A.P. Moller-Maersk. “It has been a valued brand in our portfolio and we wish the company and its dedicated people the best in the future.”