Australian fund buys into Brazil bulk ports operator

An Australian infrastructure fund has invested in a Brazilian company that runs one of Brazil’s largest bulk grain terminals

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AUSTRALIAN infrastructure fund Macquarie Infrastructure Partners V (MIP V) has entered into an agreement to invest in Brazilian port terminal operator Corredor Logística e Infraestrutura (CLI), which, along with three other companies, operates one of Brazil’s largest grain terminals.

MIP V will hold a 50% co-control stake of CLI, alongside its current owner, funds managed by private equity manager IG4 Capital.

CLI is one of four companies operating the Maranhão Grain Terminal (TEGRAM), located in the Port of Itaqui, one of the largest grain terminals in Brazil.

CLI brings its expertise as an independent operator, focusing on infrastructure and port logistics in the agribusiness sector, with a client-driven approach delivering excellent grain export shipping services.

MIP V’s investment will support CLI in its acquisition of an 80% control stake in Elevações Portuárias (EPSA) from Rumo.

EPSA, located in Santos, Brazil, is the largest bulk sugar and grain terminal in Brazil.

Rumo, the largest railroad operator in Brazil, will remain as a 20% shareholder alongside CLI in EPSA.

Upon completion of the transaction, the combined CLI and EPSA entities will support the key grain and sugar production regions in Brazil, forming a geographically diversified platform which will be the largest independent agriculture port terminals operator in Brazil.

Macquarie Asset Management managing director and Brazil head Fernando Lohmann said: “The partnership with IG4 and Rumo, via this investment in CLI, demonstrates our confidence in Brazil’s potential to maintain its leadership role in the export of essential food products”.

“Macquarie Asset Management has significant experience with the global ports sector and the agricultural sector in Brazil. This opportunity represents a natural step in bringing those experiences together and working alongside capable partners to support CLI’s expanding role in one of Brazil’s most critical sectors.”

CLI CEO Hélcio Tokeshi said: “I’m very proud to announce this new phase for CLI, which will grow from its current 4 million tonnes of export shipping capacity to more than 20 million tonnes”.

“We are a fully independent terminal operator, providing high quality services to our customers in Itaqui, a standard which we will work to replicate in the newly acquired terminals in Santos.”

Macquarie Asset Management is part of Macquarie Group, an Australia-based diversified financial group.