Chinese state conglomerate China Merchants Group (CMG) Ltd is negotiating the acquisition of a 50% stake owned by investment company Advent International Corp. in TCP, the company that manages the Paranagua container terminal in the state of Parana, daily newspaper O Estado de Sao Paulo reported recently. 

The newspaper also reported that the negotiations with the Chinese conglomerate have gained new impetus after talks on the same subject with the DP World group of Dubai, encountered difficulties. 

Reuters reported in August 2016 that Advent International Corp had hired investment bank Morgan Stanley & Co and BTG Pactual, of Brazil, to sell the stake in PTG. 

According to sources cited by the agency, Advent International’s asking price to dispose of the stake in TCP was 3.5 billion reals (US$1.1 billion). 

The DP World group is currently involved in negotiations to buy the stake of the Odebrecht group in the container terminal of the port of Santos, the largest in Latin America, according to the newspaper. 

The Odebrecht Group has been selling assets and restructuring its debts as a result of its involvement in the biggest ever corruption scandal in Brazil. 

TCP, a company created in 1998 to take part in the auction held by the government of the state of Parana for the concession of the container terminal of the port of Paranagua, the second largest in Brazil, manages this terminal and logistics company TCP Log. 

The China Merchants Group is a state-owned conglomerate based in Hong Kong, which at the end of 2015 had total assets of 901.1 billion yuan and assets under management amounting to 6.5 trillion yuan.