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Advent hires banks to sell control of Brazil port

  • Region:


  • Sector:

    Capital Goods

  • Deal Size:

  • Buy Side Company:

  • Sell Side Company:

    Advent International Corporation
  • Target Company:

    TCP Terminal de Conteineres de Paranagua SA

Buyout firm Advent International Corp has hired Morgan Stanley & Co and Grupo BTG Pactual SA to advise on the sale of a controlling stake in TCP Terminal de Contêineres de Paranaguá SA, Brazil's second-busiest container port, according to media reports quoting two people with direct knowledge of the plans. Earlier this year, Boston-based Advent had announced plans to sell the 50 percent stake it has in TCP, which can handle about 1.5 million tonnes of cargo containers annually. BTG Pactual joined Morgan Stanley as advisor to Advent at the start of July. According to one of the sources quoted, Advent wants to fetch a price for the stake that values TCP around at least $1.1 billion. The other source was quoted saying other Advent partners in TCP, which include three Brazilian investment firms and Spanish companies Group Maritim TCB SL and Galigrain SA, could join the sale.


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