AD Ports Group has announced the formal completion of its acquisition of Brazilian firm Corredor Logística e Infraestrutura (CLI), marking the Abu Dhabi group's first foothold in South America. The deal is valued at Dh3.1 billion, roughly $835 million.
Through the acquisition, AD Ports gains ownership of two agricultural export terminals at Brazil's ports of Santos and Itaqui, facilities that handle major volumes of the country's sugar, corn and soybean exports. Noatum Ports, the AD Ports Group subsidiary that led the transaction, described the purchase as the start of a strategic South American presence for the group.
Mohammed Al Tamimi, CEO of Noatum Ports, said the formal completion of the CLI acquisition marks an important milestone in AD Ports Group's international growth. Fernando Lohmann, head of Macquarie Asset Management in Brazil, which previously held a stake in CLI, said AD Ports Group is well positioned to build on the platform given its clear relevance to Brazil's trade flows.
The deal is intended to open direct trade corridors between Brazil and Abu Dhabi's port and logistics network, shortening the route for Brazilian agricultural commodities reaching UAE and other international markets. It also strengthens AD Ports Group's agrifoods business, which has been a focus of the company's recent investment strategy as it diversifies beyond traditional port operations into integrated logistics and commodity trade infrastructure.