DP World takes 100% stake in Santos terminal

The Dubai-based port terminal operator acquired an additional 66.67 percent stake in Empresa Brasileira de Terminais Portuários (Embraport) in Brazil, giving it a 100 percent stake in the terminal, which will be rebranded to DP World Santos.    Dubai-based port terminal operator DP World has completed the acquisition of an additional 66.67 percent stake in Empresa Brasileira de Terminais Portuários (Embraport) in Brazil from Odebrecht Transport (OTP), the company said in a statement.
   DP World said it now holds a 100 percent stake in the terminal, which will be rebranded to DP World Santos. Financial terms were not disclosed.
   The Embraport terminal has an annual capacity of 1.2 million TEUs and is the largest Brazilian private multi-modal port terminal.
   “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,” DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said of the deal.