Cash-rich CMA CGM, the world’s third-biggest shipping group, has been expanding into new areas such as logistics and media, and on Monday said it had agreed to acquire a 48 per cent stake in Santos Brasil, with a view to ultimately taking over the group.

The French shipping group agreed to buy a 48% stake in Brazilian terminal operator Santos Brasil Participacoes and plans to acquire the remaining shares as it looks to boost its presence in the country amid increasing demand.

Santos Brasil manages 3 Container Terminals, 1 Vehicle Terminal, 1 Liquid Bulk Terminal, and 3 Logistic Facilities.

By Andre Romani and Gus Trompiz SAO PAULO/PARIS (Reuters) -French shipping giant CMA CGM plans to acquire port terminal operator Santos Brasil in a deal that could reach $2 billion and give it control of South America's largest container terminal,

Santos is the largest terminal operator in Brazil. It owns three container terminals in Brazil as well as a vehicle and a liquid bulk terminal and three logistics facilities, CMA CGM said. Its flagship asset is the Tecon Santos terminal, Brazil's largest container handler.