(In Aug. 20 story, corrects headline, text to show company name is DP World not Dubai World)
DUBAI, Aug 20 (Reuters) - DP World DPW.DI, the Dubai government-controlled port operator, said on Sunday it would acquire a majority stake in Embraport, a private Brazilian port in Santos, in partnership with Brazil’s Odebrecht [ODBESO.UL].
The first phase of the project would be completed in 2012 at a cost of $500 million and operated by DP World, a statement said.
“Coimex Group, leader of the (Embraport) project since its inception, reduces shareholding, but remains a key member of the partnership,” it said.
Editing by Nick Macfie