AD Ports Group has acquired Corredor Logística e Infraestrutura (CLI), Brazil’s leading independent agri-bulk port terminal operator, entering the South American market with a strategically major expansion transaction.
São Paulo-based CLI operates two of Brazil’s most important agri-bulk export terminals under long-term concessions: CLI Sul, Brazil’s leading sugar export terminal and key export terminal for corn and soybeans, located in the Port of Santos; and CLI Norte, another key grains gateway at the Port of Itaqui, which is part of the Brazilian ‘Arc of the North’, an essential geographical region encompassing the Amazon basin that is a pivotal logistics hub and significant emerging corridor for agriculture exports.
In 2025, ports and terminals in northern Brazil recorded the fastest growth in the country, reinforcing the strategic role of the Arc of the North corridor in reshaping the nation’s logistics map.
The two terminals play a key role in connecting the producing regions of Brazil, the world’s leading sugar exporter and one of the largest grain exporters, to the world.
AD Ports Group agreed to acquire CLI from joint owners Macquarie Asset Management, and IG4 Capital. CLI owns 100 per cent of CLI Norte, which operates a terminal at the Port of Itaqui, and 80 per cent of CLI Sul, which operates a terminal at the Port of Santos.
The transaction, which is expected to be completed in the second half of the year subject to customary closing conditions, including regulatory and antitrust approval, was conducted at an enterprise value of AED3.1 billion (USD 835 million).
It has also been agreed that CLI’s existing senior management team will remain in place to continue running the company. The CLI acquisition represents a transformative step for AD Ports Group, positioning it as one of South America’s leading independent agri-bulk terminal operators, with strategic access to a vast number of new opportunities for the group’s associated businesses of maritime and shipping, logistics, economic cities, and digital services.
Captain Mohamed Juma Al Shamisi, Managing Director & 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.
Under the wise guidance of our leadership in the UAE, AD Ports Group is committed to enabling trade in one of the world’s most-important, fastest-growing agricultural commodities markets, which will not only benefit the Group’s global clients, including those in Brazil, but also strengthen the AD Ports Group global network.” Brazil supports AD Ports Group’s geographic expansion as well as the group’s plan to develop a major new East-West trade spoke linking South America’s largest economy to the Indian Subcontinent, East Africa and Southeast Asia.
The UAE is in advanced negotiations with Mercosur, the South American trading bloc that includes Brazil, to establish a Comprehensive Economic Partnership Agreement.
Emirati investments in Brazil are estimated to be approximately US$5 billion in total, according to the UAE Ministry of Foreign Affairs.
The two countries maintain a highly active strategic partnership, having signed a Double Taxation Agreement and eliminated various tax and investment barriers to boost bilateral business.
Fernando Lohmann, Head of Macquarie Asset Management in Brazil, said: “Brazil’s agricultural export sector continues to demonstrate remarkable resilience, reinforcing the country’s position as one of the world’s leading suppliers of agricultural commodities.
As a long-term investor in the country, Macquarie remains committed to acting as a responsible custodian of essential infrastructure assets that help drive economic development, improve connectivity and support Brazil’s role in global trade and we believe AD Ports Group is ideally positioned to support CLI’s next phase of growth.” Paulo Todescan L. Mattos, Co-Founder, Managing Partner, and CEO of IG4 Capital, said: “Since becoming shareholders in CLI, our focus has been on strengthening the company’s operational capabilities, expanding its strategic footprint, and positioning the platform to capture the long-term growth of Brazil’s agri-bulk export sector.
We believe AD Ports Group is the right strategic owner to build on this foundation, bringing global trade expertise, infrastructure capabilities, and a long-term vision that will support CLI’s continued growth and development.” The purchase of CLI gives AD Ports Group an entry point into Latin America, and a platform for further regional expansion.
The agrifood sector is a priority vertical in the group’s intelligent internationalisation expansion strategy, with several key investments made in that space recently.
In December 2025, the group’s Karachi Gateway Multipurpose Terminal Ltd. (KGTML) and the Pakistan unit of global merchant and agricultural goods processor Louis Dreyfus Company signed a long-term agreement to develop a clean bulk handling and storage facility for agricultural goods at Karachi Port.
In January 2025, the group agreed to invest about US$30 million in the greenfield Sarzha Grain Terminal on the Caspian Sea at Kuryk Port in Kazakhstan and earlier in 2026, the group secured a 30-year concession to operate the Aqaba multipurpose port in Jordan, which is a key player in agri-bulk in the Middle East with over 3 million tonnes of grains handled annually.
Noatum Ports’ Spanish operations are already significantly involved in agri-bulk with the Tarragona and Sagunto terminals handling around 2 million tonnes of grain imports annually and with an additional investment of AED90 million (EUR 21 million) announced recently for modernising existing facilities at the Tarragona terminal.
In 2025, CLI handled a combined 17 million tonnes of agri-bulk cargo and delivered a revenue of AED654 million (USD 178 million), generating an EBITDA of AED360 million (USD 98 million).
CLI operates one of Brazil’s few large-scale, agri-bulk port platforms, strategically located along export corridors and ports.
The ports of Santos and Itaqui are structurally constrained, particularly in Santos, where limited expansion capacity and chronic congestion are expected to underpin long-term utilisation and pricing resilience.
Long-term demand for the group’s Brazilian terminals is also supported by Brazil’s global leadership and the strategic importance of the country’s grain and sugar exports.
Brazil is the world’s largest sugar exporter, accounting for 40-50 per cent of total global sugar exports, according to industry figures, and a leader in soybeans, coffee, and corn.
The purchase of CLI is AD Ports Group’s largest acquisition to date following the Group’s AED2.65 billion (US$720 million) purchase of Spain’s Noatum in 2023, and its AED1.9 billion (US$510 million) purchase of a 51 per cent stake in Dubai-based Global Feeder Shipping (GFS) in early 2024.
For the transaction, AD Ports Group was advised by BTG Pactual, while IG4 and Macquarie Asset Management were advised by Citi.
➤ ADMO
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