Australia’s Macquarie Group said on Tuesday its asset management arm and Brazil’s IG4 Capital agreed to sell a controlling stake in Corredor Logística e Infraestrutura S.A (CLI) to AD Ports Group for $835 million.
Here are the details:
- The management at CLI, a Brazilian agri-bulk port terminal operator, will be unchanged after the deal, with Gabriel Motta remaining as CEO, Macquarie said in a statement.
- The transaction, AD Ports’ largest ever purchase, will enable the company to set up new trade routes directly linking Brazil to Khalifa Port and Abu Dhabi Food Hub, the UAE-based ports operator said.
- Sao Paulo–based CLI operates Brazil’s leading sugar export terminal and a key export terminal for corn and soybean, AD Ports added.
- The deal, entered into by Macquarie Asset Management through Macquarie Infrastructure Partners V and IG4 Capital through its Private Equity Fund II, is subject to regulatory and antitrust approvals.
- “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,” said Fernando Lohmann, head of Macquarie Asset Management in Brazil.
- Macquarie did not disclose the full details of the deal when contacted by Reuters.
