BRAZIL, Jun 15 (FAM) – CMA CGM and Maersk Line have entered into a binding agreement whereby CMA CGM will acquire Mercosul Line, one of the leading players in Brazil’s domestic container shipping market.

The sale of the South America specialist Mercosul was reportedly one of the conditions imposed on Maersk by competition authorities to allow Maersk’s acquisition of Hamburg Süd, which has a strong presence in the South America trades. The lines said the transaction “will ensure that the cabotage sector in Brazil remains competitive and that customers continue to benefit from a comprehensive choice of carriers”.