DP World has agreed to acquire a 71.3% stake in Puertos y Logistica (Pulogsa), the company which operates a long-term concession for Puerto Central (PCE) and which owns and operates Puerto Lirquen (PLQ) in Chile.
The transaction will be affected via a tender offer to acquire all outstanding shares of the business – the terminal operator will offer US$502m for 100% equity ownership.
Sultan Ahmed bin Sulayem, group chairman and CEO of DP World, said: “These new assets will allow DP World to serve cargo owners and shipping lines at five key gateways on the west coast of South America in Posorja (Ecuador), Callao and Paita (Peru) and San Antonio and Lirquen (Chile).
“PCE and PLQ are both ‘best in class’ terminals in their respective markets, with long-term operating rights, strong cargo diversification and significant capability for expansion.”
PCE is a multipurpose terminal in San Antonio in the country’s Central Region V, offering a gateway to the capital Santiago and to industrial, commercial and agricultural businesses.
The port has a capacity of over 1m teu, making it one of Chile’s largest, while it has potential for further expansion for containerised and non-containerised operations.
PLQ is a multipurpose terminal incorporating long term maritime concessions with freehold land ownership, which handles containers, break-bulk and dry bulk.
The port is located in Chile’s Southern Region VIII, in close proximity to the pulp and lumber industry and next to the country’s second largest city and industrial hub Concepción.