Hapag-Lloyd acquires SAAM’s terminal business for US$1bn

Hapag-Lloyd and SM SAAM S.A. have signed a binding agreement under which the German company will acquire the entire company’s terminal business and associated logistics services.

The Hamburg-based carrier will acquire 100% of the shares in SAAM Ports and SAAM Logistics at a price of around US$1bn, which also includes real estate assets related to the logistics business. A net profit of US$400m is estimated for SAAM.

SM SAAM’s terminal business participations comprise 10 terminals in six North, Central and South American countries with around 4,000 employees and a combined container throughput of around 3.5m teu last year.