SAAM to acquire all joint operations with Boskalis for US$201m

Sociedad Matriz SAAM S.A has signed a US$201m deal to acquire all towage operations jointly controlled with Royal Boskalis Westminster N.V. (Boskalis) in Brazil, Mexico, Panama and Canada.

Once the deal is finalised, SAAM will own 100% of operations in these companies and as a result, will acquire 49% of the business in Mexico, Panama and Canada and 50% in Brazil.

These countries reported revenue of US$205m in 2018 and the joint operations boast a total fleet of 106 tugs operating in 30 ports in four countries, including Santos in Brazil, Colón and Balboa in Panama.