---
title: "China Merchants Group extends the acquisition deadline for Brazil's Vast and lowers the purchase price"
description: "CHINA MER PORT announced the extension of the deadline for acquiring 70% of Brazilian Vast's equity to November 28, 2026, and adjusted the purchase price to USD 350 million, with a maximum of USD 596."
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/267715394.md"
published_at: "2025-11-27T13:55:22.000Z"
---

# China Merchants Group extends the acquisition deadline for Brazil's Vast and lowers the purchase price

> CHINA MER PORT announced the extension of the deadline for acquiring 70% of Brazilian Vast's equity to November 28, 2026, and adjusted the purchase price to USD 350 million, with a maximum of USD 596.4 million. The delayed delivery may reduce the contribution to the group's profit and increase uncertainty and execution risk

CHINA MER PORT (00144.HK) announced that it has entered into a revised agreement with Prumo regarding the acquisition of a 70% stake in the Brazilian company Vast, under which the purchase price payable at closing will be adjusted to USD 350 million, and the adjusted purchase price shall not exceed USD 596.4 million under any circumstances. Meanwhile, the deadline has been extended to November 28, 2026, and the closing is expected to be delayed by about one year compared to the original timeline set in the share purchase agreement. As a result, the delayed merger may lead to a reduction in the group's profit contribution and increase the uncertainty and execution risk of the closing. After negotiations, the parties agreed to rebalance the risks by lowering the previous price.

At the end of February this year, the company announced the acquisition of a 70% stake in the Brazilian Vast from an independent third party, Prumo, which operates an onshore crude oil transshipment terminal at the Port of Açu in Rio de Janeiro, Brazil, with an average daily processing capacity of 560,000 barrels. The cash consideration is USD 448 million, with the final adjusted purchase price not exceeding USD 714 million

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.