The UAE’s two largest port operators are pushing into Latin America, with deals in Brazil and the Dominican Republic. Abu Dhabi’s AD Ports Group acquired Brazilian terminal operator CLI for 3.1 billion dirhams ($835 million) in its largest takeover deal to date. On a smaller scale, Dubai-based DP World said it will invest a further $100 million to expand a free trade zone at the Dominican Republic’s Caucedo port, adding to a previously pledged $760 million.
Such deals fit in with the UAE’s broader trade strategy: It has concluded agreements with more than 35 countries so far, with more under negotiation, including one with Mercosur, the bloc of six South American countries which includes Brazil.