AD Ports buys Brazil agri-port operator CLI in Dh3.1 billion deal

Abu Dhabi: AD Ports Group announced Monday it has acquired Brazil-based independent agri-bulk terminal operator Corredor Logística e Infraestrutura (CLI) in at an enterprise value of Dh3.1 billion ($835 million), marking the Abu Dhabi company’s first major expansion into Latin America.

AD Ports Group acquired CLI from Macquarie Asset Management and IG4 Capital. CLI owns 100 per cent of CLI Norte and an 80 per cent stake in CLI Sul.

The company said the acquisition will support plans to create new trade routes linking Brazil directly with Khalifa Port and Abu Dhabi Food Hub in KEZAD, which is positioned as one of the region’s largest food trade and logistics hubs.

The transaction is the largest acquisition completed by AD Ports Group to date and gives the company access to two of Brazil’s major agricultural export terminals at the Ports of Santos and Itaqui.

The deal is expected to close in the second half of 2026, subject to regulatory and antitrust approvals. BTG Pactual advised AD Ports Group on the transaction, while Citi advised Macquarie Asset Management and IG4 Capital.

What is CLI?

CLI operates two strategically important agri-bulk export terminals under long-term concessions. These include CLI Sul at the Port of Santos — Brazil’s largest sugar export terminal and a major gateway for corn and soybean exports — and CLI Norte at the Port of Itaqui, part of Brazil’s growing “Arc of the North” agricultural export corridor.

Northern Brazilian ports recorded the country’s fastest cargo growth in 2025, underscoring the region’s growing importance in global food and commodity trade.

In 2025, CLI handled 17 million tonnes of agri-bulk cargo and generated Dh654 million in revenue, with EBITDA reaching Dh360 million.

The ports of Santos and Itaqui are considered strategically important due to congestion and limited expansion capacity, particularly at Santos, which supports long-term demand and pricing resilience for terminal operators.

The CLI acquisition surpasses AD Ports Group’s previous major international deals, including its Dh2.65 billion acquisition of Spain’s Noatum in 2023 and its Dh1.9 billion purchase of a 51 per cent stake in Dubai-based Global Feeder Shipping in 2024.

Brazil is the world’s largest sugar exporter and one of the largest exporters of soybeans, corn and coffee. The terminals connect agricultural producing regions to international markets.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said, “The purchase of CLI is a game changer for AD Ports Group. The transaction extends our Group’s international reach for the first time into Latin America, and deepens our growing agrifoods activities, one of our core verticals.”

The move also supports broader trade ties between the UAE and Brazil. The UAE is currently negotiating a Comprehensive Economic Partnership Agreement (CEPA) with Mercosur, the South American trade bloc that includes Brazil.

AD Ports Group investments

According to the UAE Ministry of Foreign Affairs, Emirati investments in Brazil are estimated at around $5 billion. The two countries have also signed agreements aimed at reducing tax and investment barriers.

AD Ports said the acquisition strengthens its agrifood logistics business, an area where it has been expanding through investments across Asia, the Middle East and Central Asia.

Recent projects include a grain handling facility at Karachi Port in Pakistan, a grain terminal investment in Kazakhstan, and a 30-year concession to operate the Aqaba multipurpose port in Jordan.

The company’s Spanish subsidiary Noatum Ports also handles around 2 million tonnes of grain imports annually through terminals in Tarragona and Sagunto.