Hapag-Lloyd completes US$995m acquisition of SAAM’s terminal business
Hapag-Lloyd has completed its acquisition of SM SAAM’s port terminals and logistics operations, for approximately US$995m, as the carrier looks to broaden its terminal portfolio in Latin America.
The transaction includes 10 terminals in Latin America – Iquique, Antofagasta, San Antonio, San Vicente, Corral (Chile), Port Everglades (US/Florida), Mazatlán (Mexico), Buenavista (Colombia), Guayaquil (Ecuador) and Caldera (Costa Rica) – in addition to its bonded warehouses and logistics operations in Chile.
Based on an agreement announced in October last year, the transaction was approved unconditionally by the relevant antitrust authorities of all countries involved in this acquisition process.
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