The financial closing follows regulatory and antitrust clearances in Brazil, including approvals from the National Waterway Transportation Agency, known as ANTAQ, and the Administrative Council for Economic Defense, or CADE. The transaction was first announced on June 2 and was completed after customary closing conditions were satisfied.
AD Ports acquired CLI from funds managed by Macquarie Asset Management and IG4 Capital. The Brazilian company has now joined the group’s international operating portfolio, extending AD Ports’ network into one of the world’s largest agricultural export markets.
CLI operates two major agri-bulk export terminals under long-term concessions. CLI Sul, at the Port of Santos, is a leading sugar export facility and also handles corn and soybeans. CLI Norte, at the Port of Itaqui, is a grain gateway within Brazil’s “Arc of the North”, an increasingly important corridor connecting agricultural production areas with overseas markets.
The two terminals handled a combined 17 million tonnes of agri-bulk cargo in 2025. CLI recorded revenue of Dhs654 million and earnings before interest, taxes, depreciation and amortisation of Dhs360 million during the year, according to figures disclosed by AD Ports when the acquisition agreement was announced.
At the time of the agreement, CLI owned 100 per cent of CLI Norte and 80 per cent of CLI Sul. The acquisition gives AD Ports a substantial position in infrastructure serving exports of sugar, corn, soybeans and other agricultural commodities from Brazil.
Mohammed Al Tamimi, chief executive of Noatum Ports, AD Ports Group’s international ports operating arm, said completion strengthened the group’s presence in one of the world’s most important agricultural export markets. He said Noatum Ports would move to integrate CLI into its global operations and expand the range of end-to-end trade services available through the group.
The purchase broadens AD Ports’ agrifood business and creates scope to connect Brazilian commodity flows with its ports, shipping, logistics and economic-zone operations. The group plans to establish direct trade routes linking Brazil with Khalifa Port and the Abu Dhabi Food Hub at KEZAD, with the aim of moving Brazilian agricultural products into regional and international markets.
AD Ports has also identified potential connections from Brazil to markets across the Indian subcontinent, East Africa and Southeast Asia through its wider network. The strategy places CLI’s export infrastructure within a portfolio that spans port operations, maritime transport, logistics, economic cities and digital trade services.
Brazil’s position in global agricultural trade was a central factor behind the transaction. The country is the world’s largest sugar exporter and a major supplier of soybeans, corn and coffee. AD Ports said industry figures indicate Brazil accounts for roughly 40 to 50 per cent of global sugar exports, making export infrastructure at Santos and Itaqui important to international commodity supply chains.
The Dhs3.1 billion enterprise value makes CLI the biggest acquisition undertaken by AD Ports, exceeding its Dhs2.65 billion purchase of Spain-based logistics group Noatum in 2023 and its Dhs1.9 billion acquisition of a 51 per cent stake in Global Feeder Shipping in 2024.
The Brazilian regulator’s published deliberations show ANTAQ considered the change of corporate control involving Corredor Logística e Infraestrutura and CLI Sul as part of its approval process. The closing also required competition clearance from CADE before ownership could transfer.
Macquarie Asset Management said when the agreement was signed that CLI had expanded its operational footprint and improved efficiency across its logistics corridors during the sellers’ ownership. Fernando Lohmann, Macquarie Asset Management’s head in Brazil, said after completion that CLI had built a competitive position supported by strategic assets, operating scale and a resilient customer base.
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