AD Ports Group Completes US$835 Million Acquisition of Brazil's CLI

en.Wedoany.com Reported - On October 2, AD Ports Group completed the closing of its acquisition of Brazilian agricultural bulk terminal operator Corredor Logística e Infraestrutura (CLI), and through its subsidiary Noatum Ports obtained operational control of CLI. The enterprise value of the transaction was AED 3.1 billion, equivalent to approximately US$835 million. The transaction was announced on June 2 and was formally completed after receiving approval from Brazil's National Waterway Transportation Agency (ANTAQ) and the Administrative Council for Economic Defense (CADE) and satisfying closing conditions.

CLI holds a 100% equity interest in CLI Norte and an 80% equity interest in CLI Sul. CLI Norte operates an agricultural bulk terminal at the Port of Itaqui in Maranhão state, serving as a grain export node in Brazil's northern agricultural export corridor; CLI Sul is located at the Port of Santos, primarily handling sugar while also undertaking corn and soybean export operations. Both terminals operate under long-term concession agreements.

When AD Ports Group announced the transaction in June, it disclosed that CLI handled approximately 17 million tonnes of agricultural bulk in 2025, generating US$178 million in revenue and US$98 million in EBITDA. The original shareholders were funds managed by Macquarie Asset Management and IG4 Capital. After the completion of the transaction, CLI's existing senior management team will continue to be responsible for the company's operations. The US$835 million corresponds to the enterprise value of this transaction, not the investment and construction amount for CLI's two terminals.

Following the completion of the transaction, AD Ports Group plans to leverage CLI's agricultural bulk export capacity at the Ports of Itaqui and Santos to establish a direct trade route from Brazil to Abu Dhabi's Khalifa Port and the KEZAD Abu Dhabi Food Hub, and to connect Brazilian agricultural products to its port and shipping network serving the Indian subcontinent, East Africa, and Southeast Asia. The official announcement currently discloses only the route development plan; the maiden voyage date, frequency, vessel type, and specific cargo volumes have not yet been announced.