© Hapag-Lloyd

Acquisition of Chilean terminal operator SM SAAM S.A

Hapag Lloyd continues to invest

by Port News Editorial Staff

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

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