Leaderboard
Leaderboard

DP World to take control of Embraport

DP World to take control of Embraport

The Brazilian competition regulator has approved DP World’s purchase of Odebrecht’s 66.7% share in the Embraport terminal at the Port of Santos, Brazil, local media reported.

Following the purchase, for which the terms have yet to be finalised, DP World will take full control of the 1.3 m teu terminal.

The Brazilian construction company has recently been involved in the so-called ‘Car Wash’ scandal, which resulted in the company’s former CEO Marcelo Odebrecht being jailed in 2015 charged with corruption.

Odebrecht was accused of using bribery to obtain about 100 projects across 12 countries.

The corruption scandal resulted in Brazil’s former President Dilma Rousseff being impeached, with the country’s current President Michel Temer recently being linked to it.

Embraport handled 645,000 teu in 2016, an 18% decline year-on-year, but reported an 18% increase in its market share.