Abu Dhabi-based AD Ports Group has completed its acquisition of Brazilian agri-bulk terminal operator Corredor Logística e Infraestrutura (CLI) at an enterprise value of AED 3.1bn ($835m), according to a company statement.
The deal is the largest acquisition in AD Ports’ history and marks its first strategic entry into South America.
The transaction closed on 1 October after receiving approvals from Brazilian waterway regulator ANTAQ and competition authority CADE. The agreement was first announced on 2 June.
ADP Brazil Ports Holdco S.A., a subsidiary of AD Ports, acquired 100% of CLI’s ordinary and preferred shares from funds managed by IG4 Capital and Macquarie Asset Management. The acquisition gives AD Ports operational control of CLI through its international ports arm Noatum Ports.
CLI owns 100% of CLI Norte at the Port of Itaqui and 80% of CLI Sul at the Port of Santos. Rumo S.A. holds the remaining 20% of CLI Sul.
CLI Sul handles sugar, corn and soybeans, while CLI Norte forms part of Brazil’s Arc of the North agricultural export corridor. The two terminals handled 17m tonnes of agri-bulk cargo in 2025. CLI generated AED 654m ($178m) of revenue and AED 360m ($98m) of EBITDA during the year.
The transaction exceeds AD Ports’ AED 2.65bn ($720m) acquisition of Spanish logistics group Noatum in 2023 and its AED 1.9bn ($510m) purchase of a 51% stake in Dubai-based Global Feeder Shipping in early 2024.
AD Ports Group is an Abu Dhabi-headquartered integrated trade and logistics group with businesses spanning ports, maritime and shipping, logistics, economic cities and free zones, and digital services.
CLI is a Brazilian port infrastructure and logistics operator focused on agricultural bulk cargo. Noatum Ports is AD Ports’ international ports operating arm.
IG4 Capital is a Brazilian infrastructure investment firm. Macquarie Asset Management manages investment funds and other institutional capital.