AD Ports Group has acquired Corredor Logística e Infraestrutura (CLI), Brazil’s leading independent agri-bulk port terminal operator, entering the South American market with a strategically major expansion transaction.
São Paulo-based CLI operates two of Brazil’s most important agri-bulk export terminals under long-term concessions: CLI Sul, Brazil’s leading sugar export terminal and key export terminal for corn and soybeans, located in the Port of Santos; and CLI Norte, another key grains gateway at the Port of Itaqui.
AD Ports Group agreed to acquire CLI from joint owners Macquarie Asset Management.The transaction, which is expected to be completed in the second half of the year subject to customary closing conditions, including regulatory and antitrust approval, was conducted at an enterprise value of AED 3.1bn (US$ 835mn).
Game changer
“The purchase of CLI is a game changer for AD Ports Group. The transaction extends our Group’s international reach for the first time into Latin America, and deepens our growing agrifoods activities, one of our core verticals,” stated Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO, AD Ports Group.
“Macquarie remains committed to acting as a responsible custodian of essential infrastructure assets that help drive economic development, improve connectivity and support Brazil’s role in global trade and we believe AD Ports Group is ideally positioned to support CLI’s next phase of growth,” commented Fernando Lohmann, Head of Macquarie Asset Management, Brazil.
“AD Ports Group is the right strategic owner to build on this foundation, bringing global trade expertise, infrastructure capabilities, and a long-term vision that will support CLI’s continued growth and development,” noted Paulo Todescan L. Mattos, Co-Founder, Managing Partner, and CEO, IG4 Capital.
