The merger between OceanPact and CBO is official, creating a powerhouse with 70 vessels and over 5,000 employees.
The maritime services sector in Brazil saw a significant strategic shift this Wednesday (September 16) with the completion of the business combination between OceanPact and CBO. The merger, originally announced in March, received full approval from the Administrative Council for Economic Defense (CADE) and met all legal requirements, finalizing the incorporation of CBO by OceanPact. The new entity will operate under the name OceanPact CBO.
The path to consolidation included a key development: the CADE approval in July, which had been challenged by Petrobras. However, the regulatory body upheld its decision, dismissing the oil giant’s objections and clearing the way for the merger.
New Leadership and Expanded Scale
With this integration, OceanPact CBO assumes control of a robust operation, featuring a fleet of 70 vessels and a workforce of over 5,000 professionals. The company’s projected annual revenue exceeds R$ 4 billion, with a portfolio of ongoing contracts valued at more than R$ 14 billion. This new operational scale is expected to optimize resource allocation and expand the company’s capabilities in high-complexity service delivery.
A statement released by the company highlights the potential to operate in critical areas such as environmental emergency response, subsea operations, decommissioning projects, integrated logistics, and environmental initiatives. The merger is built on four pillars: optimizing cash flow generation to increase dividend distribution; increasing operational capacity through an expanded asset base; maximizing value creation through commercial and operational synergies; and fleet complementarity.
The new company’s leadership structure has been established, including figures such as Flavio Andrade, Haroldo Solberg, Eduardo de Toledo, Erik Cunha, Adriano Ranieri, and Fernando Borensztein. CBO contributes Marcos Tinti and Marcelo Martins to the executive board. Governance will be overseen by a seven-member Board of Directors, chaired by Luís Araujo.
New Shares and Shareholder Structure
As part of the incorporation process, 274,551,446 new common shares were issued. These shares began trading on the B3 stock exchange last Thursday (September 17). The ownership structure of OceanPact CBO now includes Vinci Compass (21.8%), funds managed by Pátria (21.8%), Flavio Andrade (13.0%), BNDESPar (10.9%), OceanPact executives (3.8%), and the public market (28.7%).
This strategic consolidation positions OceanPact CBO as a major player in the maritime services sector, with enhanced capacity to meet the complex demands of the oil and gas industry, as well as other sectors reliant on offshore and environmental operations. The outlook suggests a more robust and integrated approach, aimed at optimizing synergies and delivering greater value to clients and shareholders.
