Dubai-based ports operator DP World on Monday completed the full acquisition of Brazilian terminal Empresa Brasileira de Terminais Portuarios (Embraport) from Odebrecht Transport.
Embraport in Santos, Sao Paulo, is the largest private multi-modal port terminal in South America, with an annual capacity of 1.2 million teu (twenty-foot equivalent units). Port of Santos, of which it is a part, is the busiest container port in Latin America and handled 3.4m teu in 2016.
DP World acquired its initial 33.33% share in Embraport in August 2013 and with this new transaction it has bought the additional 66.67% stake it needed to complete full ownership.
It will rebrand the port as DP World Santos.