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Published today at ANBA (Brazil-Arab News Agency) http://www2.anba.com.br/noticia/21877052/finance/dp-world-buys-out-odebrechts-stake-in-embraport/ at 04/12/2017 – 13:09hs
DP World buys out Odebrecht’s stake in Embraport
The Dubai port operator is now the sole shareholder of the private terminal in Santos Port, whose name will change to DP World Santos.
From the Newsroom*
São Paulo – DP World, the Dubai-based port operator, purchased an additional stake in Empresa Brasileira de Terminais Portuários (Embraport) in Santos, São Paulo. The UAE company now owns 100% of the private maritime terminal, it said this Monday (4).
DP World acquired a 66.67% stake from Odebrecht Transportes. It also said it will change Embraport’s name to DP World Santos. The latter is the biggest private intermodal terminal, set in the Port of Santos, Latin America’s busiest seaport.
CEO Sultan Ahmed Bin Sulayem: Embraport stake consolidation
DP World said the newly acquired terminal can handle 1.2 million TEU per year. Its first phase saw the construction of a 653-meter dock area and 207,000 sqm terminal area.
A statement quoted DP World chairman and CEO Sultan Ahmed Bin Sulayem as saying the company is delighted to consolidate its stake in DP World Santos. He reiterated DP World’s commitment to the Port of Santos and the future of trade in Brazil. DP World had bought its first stake in the Embraport project back in 2009.
“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,” Sulayem said.
*Translated by Gabriel Pomerancblum of ANBA