The US private equity firm that owns the operator of Brazil’s second busiest container port is contemplating its sale, according to Bloomberg.
Advent International of Boston, Massachusetts, is looking at shedding its interest in Terminal de Conteineres de Paranagua (TCP), for a rumoured valuation of $1.2bn.
When Advent bought 50% of TCP in 2011 the terminal operator was valued at $1bn.
TCP has been operating the container terminal at Paranagua port in the southern state of Parana since 1998 when it won the first bid.
With 1.5m containers handled per year TCP is the second-busiest container terminal in Brazil, trailing only the Port of Santos’ terminal (in Sao Paulo state), which handles 3.6m.
A possible buyer firm is said to have been working with Morgan Stanley on a potential deal.
Advent International is a global private equity firm that usually focuses on buyouts.