In Brazil, the competition authority Conselho Administrativo de Defesa Econômica (CADE) - the Administrative Council for Economic Defense - has given its unrestricted approval to the purchase by China Merchants Port Holdings (CMPH) of port operator TCP Participações. The announcement was made in the Official State News Publication. According to CADE, the purchase does not imply any horizontal overlap or effective vertical integration and therefore does not raise any concerns from the point of view of competition. CMPH announced its decision to acquire a 90% stake in TCP in September for around $887m. TCP is known to be Brazil’s most profitable container terminal operation. The Paraná-based company, which handles containers at the Port of Paranaguá, was seen as a way for CMPH to expand its operations in Latin America. It is also a significant move on behalf of international investors, who have mostly so far shied away from buying assets in Brazil given problems with both the economy and with visible corruption amongst politicians.
Brazil 's competition regulator has given unrestricted approval for China Merchants Port Holdings ( CMPH ) to buy its container operator TCP Participações . CMPH was looking to buy a 90 % stake in delta , which is Brazil 's most profitable container port , for $ 887 m as part of a Latin American deal . CMPH is also looking to invest up to $ 1.12bn in developing and constructing a major port in Sri Lanka . As we concluded in 2015 , China is investing heavily in overseas ports to increase its maritime power and open up new shipping routes .