SNG: AD Ports acquires top Brazilian port terminal operator CLI for $835m

By Zawya

By Staff Writer

AD Ports Group, a leading global enabler of trade, industry, and logistics solutions, has announced that it has successfully completed the financial closing of its acquisition of Corredor Logística e Infraestrutura (CLI), Brazil’s leading independent agri-bulk port terminal operator, through funds managed by Macquarie Asset Management and IG4 Capital.

The transaction, announced on June 2, was completed following the satisfaction of customary closing conditions, including regulatory and antitrust approvals.

CLI operates two strategically important agri-bulk export terminals under long-term concessions - CLI Sul, at the Port of Santos, and CLI Norte at the Port of Itaqui.

CLI Sul is a leading sugar export terminal that also handles corn and soybeans, while CLI Norte forms part of Brazil’s “Arc of the North”, an important logistics corridor for agricultural exports. Together, the terminals connect Brazil’s major producing regions with global markets.

AD Ports Group said it has also received the necessary approvals from Brazil's National Waterway Transportation Agency (Antaq) and the Administrative Council for Economic Defense (CADE), enabling the transaction to proceed to completion.

The acquisition was conducted at an enterprise value of AED3.1 billion ($835 million), making it the largest acquisition in the Group’s history.

With the closing now finalised, CLI has become an operational member of AD Ports Group’s international portfolio and represents the Group’s first strategic entry into South America.

Mohammed Al Tamimi, the Chief Executive Officer of Noatum Ports (AD Ports Group), said: "The formal completion of the CLI acquisition marks an important development in AD Ports Group’s international growth and strengthens our presence in one of the world’s most important agricultural export markets."

"The acquisition gives our Group powerful new global reach and capabilities. AD Ports Group, through its international ports operating arm Noatum Ports, is committed to quickly integrating CLI into our existing global operations, to further expand the range and relevance of our portfolio of global end-to-end trade solutions," he stated.

Fernando Lohmann, Head of Macquarie Asset Management in Brazil, said: "CLI has delivered strong growth and built a highly competitive position in Brazil’s port and logistics market, supported by strategic assets, operational scale and a resilient customer base."

"With the transaction now completed following all required approvals, AD Ports Group is well positioned to build on that platform, which has clear relevance to Brazil’s trade flows, and support CLI’s next phase of development," he added.

Paulo Todescan L. Mattos, the Co-Founder, Managing Partner, Chair, and Co-CIO of IG4 Capital Group, said: "We are grateful for the constructive engagement of all parties involved in bringing this transaction to its close. CLI has evolved into an important supply chain provider supporting Brazil’s export and import markets with a strong operating platform."

"We are proud of the progress achieved in transforming CLI and believe AD Ports Group is well placed to support CLI’s continued development and long-term growth," he added.-TradeArabia News Service

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