DP World has completed the acquisition of an additional 66.67% stake in Empresa Brasileira de Terminais Portuários (Embraport) in Brazil from Odebrecht Transport (OTP). This transaction increases DP World’s shareholding to 100%. The terminal will be rebranded to DP World Santos.
The purchase consideration is below 5% of DP World’s net asset value as of 1H20171 and on a pro-forma basis DP World’s net leverage would be 2.8x Net Debt to EBITDA with this transaction compared to the reported 2.6x2.
DP World Santos is the largest Brazilian private multi-modal port terminal and operates in the Port of Santos, which is the busiest container port in Latin America handling 3.4 million TEU (twenty-foot equivalent units) in 2016. It has strategic access to sea, road and rail, and 90% of the cargo is destined for Brazil’s most populous city, São Paulo. DP World Santos has an annual capacity of 1.2 million TEU and the first phase of the project has created 653m of wharf, 207,000m2 of terminal area.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said:
“We are delighted to fully consolidate our stake in DP World Santos and to underline our commitment to the Port of Santos and the future of trade in Brazil. DP World has become a major player in the South American infrastructure sector with a network of container terminals in Peru, Dominican Republic, Argentina, Ecuador and Suriname and we remain committed to our role as a global trade enabler and targeting a broader strategy to grow complementary sectors in the global supply chain.”
Arteris, Abertis's Brazilian subsidiary, has signed the concession agreement of Via Paulista; which lays on 35 municipalities in different regions in the state of São Paulo.
ARTESP, the Regulatory Agency for Transport Public Services of the State of São Paulo, has launched a tender process to seek a private partner to develop a road project under its Concession Program.
Read moreBrazilian toll road operator Invepar has formalized the request for the return of a road concession together with the National Transportation Agency Terrestrial (ANTT).
Read moreThe Brazilian government has sold operating licenses for four hydroelectric dams with a total value of nearly US$4 billion.
Read moreChina Merchants Port Holdings Company Limited has announced it has entered into the share purchase agreement with TCP Participações S.A. to acquire 90% stake of the Port of Paranaguá in Brazil, from TCP for BRL 2.89 billion (US$920 million).
Read more