Macquarie Asset Management Announces Agreement to Invest in Brazilian Port Terminal Operator CLI

CLI will then acquire 80% of EPSA, the largest bulk sugar and grain terminal in Brazil

Combined entities will form the largest independent agriculture port terminals operator in Brazil

Macquarie Infrastructure Partners V (“MIP V”), an Americas-focused unlisted infrastructure fund managed by Macquarie Asset Management, announced today that it has entered into an agreement to invest in Corredor Logística e Infraestrutura S.A. (“CLI”), a Brazilian port terminal operator. MIP V’s investment in CLI will be via a primary issuance and after closing, MIP V will hold a 50% co-control stake alongside CLI’s current owner, funds managed by private equity manager IG4 Capital. In addition to its 50% voting stake, MIP V will also subscribe for new preferred shares issued by CLI.

CLI is one of four companies operating the Maranhão Grain Terminal (“TEGRAM”), located in the Port of Itaqui, one of the largest grain terminals in Brazil. The company brings its expertise as an independent operator, focusing on infrastructure and port logistics in the agribusiness sector, with a client-driven approach delivering excellent grain export shipping services.

MIP V’s investment will support CLI in its acquisition of an 80% control stake in Elevações Portuárias S.A. (“EPSA”) from Rumo S.A. (“Rumo”). EPSA, located in Santos, Brazil, is the largest bulk sugar and grain terminal in Brazil. Rumo, the largest railroad operator in Brazil, will remain as a 20% shareholder alongside CLI in EPSA. Upon completion of the transaction, the combined CLI and EPSA entities will support the key grain and sugar production regions in Brazil, forming a geographically diversified platform which will be the largest independent agriculture port terminals operator in Brazil.

“The partnership with IG4 and Rumo, via this investment in CLI, demonstrates our confidence in Brazil’s potential to maintain its leadership role in the export of essential food products," said Fernando Lohmann, Managing Director at Macquarie and Head of Macquarie Asset Management in Brazil. “Macquarie Asset Management has significant experience with the global ports sector and the agricultural sector in Brazil. This opportunity represents a natural step in bringing those experiences together and working alongside capable partners to support CLI’s expanding role in one of Brazil’s most critical sectors.”

“I'm very proud to announce this new phase for CLI, which will grow from its current 4 million tons of export shipping capacity to more than 20 million tons,” said Hélcio Tokeshi, CEO of CLI. “We are a fully independent terminal operator, providing high quality services to our customers in Itaqui, a standard which we will work to replicate in the newly acquired terminals in Santos.”

About Macquarie Asset Management

Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage more than US$579 billion in assets globally, Macquarie Asset Management provides access to specialist investment expertise across a range of capabilities including fixed income, equities, multi-asset solutions, private credit, infrastructure, renewables, natural assets, real estate, and asset finance.

Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs approximately 18,000 people in 33 markets and is listed on the Australian Securities Exchange.

All figures as at 31 March 2022.

Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this document is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.

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