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12/25/2017 DP World snaps up remainder of Brazil’s Embraport - The National

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DP World snaps up remainder of

Brazil’s Embraport

Terminal is the largest in Port of Santos, Latin America's largest container port

Sarah Townsend
December 4, 2017
Updated: December 4, 2017 08:37 PM

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The Port of Santos is the largest container port in Latin America. Fernando
Donasci / Reuters

DP World, the world’s fourth largest ports operator,
acquired a further 66.67 per cent stake in Brazil’s

Empresa Brasileira de Terminais Portuários
(Embraport), making it the sole owner of the largest

private multi-modal port terminal in Latin America's
largest container port.

The UAE-based ports operator already held a majority

stake in the terminal, situated in Port of Santos,
through a partnership with Brazil-based Odebrecht

Transport (OTP).

It said on Monday it had acquired the remaining stake
from OTP, following approvals from Brazil’s anti-trust

regulator, at a purchase consideration below 5 per cent
of DP World’s net asset value as of the first half of

2017.

Non-oil trade between the UAE and Brazil was worth
US$2.7 billion in 2016, according to the UAE's Ministry

of Economy, dominated by meat and poultry products,
iron, aluminium, gold and precious metal crafts.

The Dubai Chamber of Commerce and Industry said
earlier this year it aims to double Latin America’s share

https://www.thenational.ae/business/dp-world-snaps-up-remainder-of-brazil-s-embraport-1.681208 1/4