DP World acquires full ownership of Brazil’s Embraport

DUBAI:

DP World has completed full acquisition of Brazil’s Embraport, buying an additional 66.67 per cent stake from Odebrecht Transport to give it 100 per cent of the terminal.

The terminal, in the Port of Santos, is Brazil’s largest private multi-mode port terminal, with an annual capacity of 1.2 million TEU.

DP World says the acquisition, to be renamed DP World Santos, is below 5 per cent of its net asset value as of the first half of 2017.

Sultan Ahmad Bin Sulayem, Group Chairman and CEO, DP World, said, “We are delighted to fully consolidate our stake in DP World Santos and to underline our commitment to the Port of Santos and the future of trade in Brazil.”