Macquarie Asset Management announces agreement to invest in Brazilian port terminal operator CLI

CLI will then acquire 80 per cent of EPSA, the largest bulk sugar and grain terminal in Brazil. Combined entities will form the largest independent agriculture port terminals operator in Brazil.

Macquarie Infrastructure Partners V (MIP V), an Americas-focused unlisted infrastructure fund managed by Macquarie Asset Management, announced today that it has entered into an agreement to invest in Corredor Logística e Infraestrutura S.A. (CLI), a Brazilian port terminal operator. MIP V’s investment in CLI will be via a primary issuance and after closing, MIP V will hold a 50 per cent co-control stake alongside CLI’s current owner, funds managed by private equity manager IG4 Capital. In addition to its 50 per cent voting stake, MIP V will also subscribe for new preferred shares issued by CLI.

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. The company 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 per cent control stake in Elevações Portuárias S.A. (EPSA) from Rumo S.A. (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 per cent 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.

“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 agricultural commodities." said Fernando Lohmann, Managing Director at Macquarie and Head of Macquarie Asset Management in Brazil. “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.”

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