Belt & Road to Brazil? China buys another port

State-owned China Merchants Port agrees to buy controlling stake in TCP, operator of Brazil's second largest port, as Beijing extends its influence to another debt-laden country.

Belt & Road to Brazil? China buys another port

Brazil’s second-largest container port will be in Chinese hands after state-owned China Merchants Port agreed a $920 million deal, sealing its second port acquisition in less than two months and extending China’s collection of overseas port assets.

Hong Kong-listed China Merchants Port announced on Monday it had entered into an agreement to buy a 90% interest in Terminal de Contêineres de Paranaguá TCP from US private equity firm Advent International. TCP operates Port of Paranagua...

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