Macquarie and IG4 to sell controlling stake in Brazil's CLI to AD Ports for $835 million
Australian infrastructure fund Macquarie and private-equity manager IG4 Capital have agreed to sell their controlling stake in Brazilian multimodal logistics operator CLI to Abu Dhabi-based AD Ports Group for 835 million US dollars.
Photo: Mariana Silvestre / PexelsAustralian infrastructure fund Macquarie and private-equity manager IG4 Capital have agreed to sell their controlling stake in Brazilian multimodal logistics operator CLI to Abu Dhabi-based AD Ports Group for 835 million US dollars. According to Investing.com, the transaction represents AD Ports' largest step yet in its Latin America expansion strategy.
CLI plays a key role in Brazil's inland agricultural export chain through its rail, port and warehousing assets. In a statement, AD Ports Group said the acquisition would be followed by a 'multi-year investment programme' focused on agricultural commodities and container traffic in Brazil, with a comprehensive CapEx plan already prepared.
Completion is subject to clearance by Brazil's competition authority CADE and other sectoral regulators. Macquarie and IG4 said proceeds from the exit would be redeployed into new Latin American infrastructure funds. Eurasia Group senior analyst Christopher Garman, speaking to Reuters, said the transaction is a concrete indicator of growing Gulf capital interest in Latin American logistics infrastructure.
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