An Australian investment firm announced Tuesday it has reached an agreement to divest its majority ownership in a Brazilian agricultural port terminal company to a United Arab Emirates-based operator for $835 million.
Macquarie Group revealed that its asset management division, along with Brazil’s IG4 Capital, will transfer controlling ownership of Corredor Logística e Infraestrutura S.A (CLI) to AD Ports Group in the massive deal.
Key aspects of the transaction include:
• CLI’s leadership structure will remain intact following the sale, with Gabriel Motta continuing in his role as CEO, according to Macquarie’s announcement.
• For AD Ports, this acquisition marks their biggest purchase to date and will allow the company to establish direct shipping connections between Brazil and both Khalifa Port and Abu Dhabi Food Hub, the UAE-based ports operator stated.
• CLI, headquartered in Sao Paulo, runs Brazil’s top sugar export facility along with a major terminal for corn and soybean exports, AD Ports noted.
• The agreement involves Macquarie Asset Management operating through Macquarie Infrastructure Partners V and IG4 Capital through its Private Equity Fund II, and requires approval from regulatory and antitrust authorities.
Fernando Lohmann, who leads Macquarie Asset Management’s Brazil operations, commented on the deal: “As a long-term investor in the country, 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.”
When approached for additional information, Macquarie declined to provide complete details about the transaction terms.
