Institutional investor Caisse de dépôt et placement du Québec (CDPQ) has acquired a 45% interest in DP World Chile.

DP World Chile operates terminals in Puerto Central and Puerto Lirquen, which are located in San Antonio and Gran Concepción. The terminals serve Chile’s main consumption and industrial centres.

CDPQ noted that the transaction will be executed at the same price as DP World’s acquisition of last month’s asset.

DP World acquired 99.2% of the issued share capital of DP World Chile through a tender offer process.

The company’s investment in DP World Chile now forms part of its platform with CDPQ, which now has an indirect stake of 44.64% in the business.

In December 2016, CDPQ and DP World announced their partnership to create a $3.7bn platform to invest in ports and terminals worldwide.

DP World owns a 55% stake in the platform, while the remaining 45% is held by CDPQ.

CDPQ executive vice-president and Infrastructure head Emmanuel Jaclot said: “This is our first infrastructure acquisition in Chile and our first Latin American ports. It marks an important step in the growth of our platform with DP World and aligns well with its geographic diversification objective.

“It marks an important step in the growth of our platform with DP World.”

“We are delighted to continue working alongside DP World, a strategic partner for CDPQ that has a long track record in the port business and provides us with access to high-quality investment opportunities.”

Earlier this month, DP World signed an agreement to acquire Canadian marine terminal Fraser Surrey Docks from Macquarie Infrastructure Partners (MIP).