Abu Dhabi’s AD Ports to buy controlling stake in Brazil’s CLI for US$835 million

Abu Dhabi-based AD Ports Group has signed a definitive agreement to acquire a controlling stake in Corredor Logística e Infraestrutura (CLI), in a transaction valued at US$835 million.

CLI is an independent Brazilian port logistics platform with operations at the Port of Itaqui, in Maranhão, and the Port of Santos, in São Paulo. The company is currently controlled equally by a private equity fund managed by IG4 Capital and an infrastructure fund managed by Macquarie Asset Management, which are the sellers in the transaction. The completion of the deal remains subject to regulatory and antitrust approvals.

The acquisition marks AD Ports’ entry into the Brazilian market and is expected to help finance CLI’s next phase of growth.

IG4 acquired CLI in 2020, when the company was facing a complex financial situation, for US$240 million including debt, and led its restructuring. In 2022, Macquarie joined as an equal controlling shareholder to finance the acquisition of grain and sugar terminals in Santos from Rumo.

Citi acted as financial adviser to Macquarie and IG4, while BTG Pactual advised AD Ports on the transaction.

Source: Bloomberg Línea

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