DP World acquires Chilean company Puertos y Logística S.A.

DP World acquires Chilean company Puertos y Logística S.A.
Puerto Central and Puerto Lirquen are two of the largest multipurpose terminals in Chile

DP World has acquired control of the Chilean company Puertos y Logística S.A., owner of Puerto Central (San Antonio) and Puerto Lirquen (Concepción) – two of the largest multipurpose terminals in the country.

The acquisition of these facilities followed a successful Public Offer of Acquisition of Shares (OPA) made through DP World Holding UK of US$502m and all taxes related to the transaction were paid in Chile.

Roberto Zilleruelo, CEO at Puertos y Logística S.A., said: “With the support of one of the largest port operators and trade enablers in the world, we will accelerate business growth through new investments in the company and its people.”

Zilleruelo said that the company would work with local teams to offer international professional opportunities and transfer knowledge, in addition to expanding the activity of the terminals.

The aim of these activities is to further boost the economy of Chile, which Zilleruelo said is “already the most developed and dynamic in Latin America”.

Tiemen Meester, CEO and managing director of DP World Americas, said: “Puerto Central and Puerto Lirquen provide access to Chile, the most developed economy in Latin America, with attractive prospects for growth and a dynamic business environment.”

The new assets allow the global port operator to service cargo owners and shipping companies in five key points on the west south of America: Posorja (Ecuador), Callao and Paita (Peru) and San Antonio and Lirquén (Chile).

Meester added: “Puerto Central and Puerto Lirquen are the best multipurpose terminals of their kind in their respective markets, with long-term operating rights, a strong diversification of cargo and an important capacity for expansion…”

All of the above is expected to help generate value in the long term for the company and its customers, with Chile’s investment going in line with DP World Americas’ strategy.

Terminals on the west coast serve a distinct and separate hinterland region with no overlap between the different countries and DP World expects – and are making investments – to be able to handle mainline services in each of these terminals.

An example of this is the US$1.2bn investment into the deepwater port in Posorja which aims to place Ecuador on par with the port growth that is developing in the region and the world.

Adjacent to Posorja is a 100 ha logistics and industrial park being developed as a Special Zone of Economic Development (ZEDE).