Macquarie Asset Management announces agreement to invest in Brazilian port terminal operator CLI

Macquarie Infrastructure Partners V (MIP V), an Americas-focused unlisted infrastructure fund managed by Macquarie Asset Management, has entered into an agreement to invest in Corredor Logística e Infraestrutura S.A. (CLI), a Brazilian port terminal operator, according to the company's release. MIP V’s investment in CLI will be via a primary issuance and after closing, MIP V will hold a 50 per cent co-control stake alongside CLI’s current owner, funds managed by private equity manager IG4 Capital. In addition to its 50 per cent voting stake, MIP V will also subscribe for new preferred shares issued by CLI.

CLI is one of four companies operating the Maranhão Grain Terminal (TEGRAM), located in the Port of Itaqui, one of the largest grain terminals in Brazil. The company brings its expertise as an independent operator, focusing on infrastructure and port logistics in the agribusiness sector, with a client-driven approach delivering excellent grain export shipping services.

MIP V’s investment will support CLI in its acquisition of an 80 per cent control stake in Elevações Portuárias S.A. (EPSA) from Rumo S.A. (Rumo). EPSA, located in Santos, Brazil, is the largest bulk sugar and grain terminal in Brazil. Rumo, the largest railroad operator in Brazil, will remain as a 20 per cent shareholder alongside CLI in EPSA. Upon completion of the transaction, the combined CLI and EPSA entities will support the key grain and sugar production regions in Brazil, forming a geographically diversified platform which will be the largest independent agriculture port terminals operator in Brazil.