Hapag-Lloyd has bought 100% of the shares in SM SAAM SA, a Chilean terminal operator with a presence in six countries in North, Central and South America, with holdings in 10 terminals and a combined volume of 3.5 million TEUs.
The parties agreed on a price of approximately one billion dollars. Also included in the deal is the acquisition of SAAM logistics, a company specializing in providing logistics services, with a workforce of 300 employees.
“Investing in terminal infrastructure is a key element of our strategic agenda and Latin America is one of our stronghold markets,”said Rolf Habben Jansen, CEO of Hapag-Lloyd.
“Acquiring SM SAAM’s terminal operations and complementary logistics services will help us further strengthen our business while building up a robust and attractive terminal portfolio,” he added.
Completion of the deal is subject to the approval of the relevant antitrust authorities and the further conditions customary for a transaction of this kind.
Translation by Giles Foster