Dubai – Mubasher: The Nasdaq Dhabi-listed DP World on Monday unveiled the closing of a deal to acquire the remaining 66.67% stake of Brazil’s Embraport from the Brazil-based Odebrecht Transport.
DP World stated that the deal’s value was less than 5% of the company’s net assets in the first six months of 2017, according to a company statement.
Following the conclusion of the deal, DP world became the sole shareholder of Embraport, which will be rebranded to DP World Santos, the international company added.
With an annual capacity of 1.2 million twenty-foot containers, Embraport is the most important port in Brazil, and the biggest in South America, DP World remarked.
“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,” said Sultan Ahmed Bin Sulayem, DP World’s group chairman and CEO.
