Data as of: October 3, 2026 Issued: Saturday, October 3, 2026 Evidence key: CONFIRMED (primary source), REPORTED (multiple outlets), RUMORED (unverified market reporting), ANALYTICAL (inference).
AD Ports completed its $835 million acquisition of Brazil’s CLI from Macquarie and IG4 — the largest deal in the group’s history — after clearing ANTAQ and CADE approvals. CLI’s agri-bulk terminals handled 17 million tonnes in 2025 on $178 million of revenue and $98 million of EBITDA, which prices the deal near 8.5x EV/EBITDA: a concession multiple well below digital infrastructure, for long-term control of agricultural export corridors at Santos and Itaqui.
Across the Atlantic, A.P. Møller Capital signed to take 53.35% of Euroports from R-Logitech and Belgian state investors, with close targeted for the first quarter of 2027 and pricing tied to 2026 EBITDA. The Maersk family vehicle is consolidating European bulk terminals while Gulf capital consolidates South American ones.
Add the smaller moves — RSGT and CMA CGM’s $434 million Jeddah Terminal 4 joint venture, ICTSI taking full ownership of Brazil’s iTracker intermodal business — and the pattern is clear: port operators with sovereign or family backing are buying operating control of trade infrastructure, not minority stakes.