Grupo Argos sells Compas share

Grupo Argos has announced that it has sold its 50% share in port operator Compañía de Puertos Asociados (Compas) to an investment fund managed by Goldman Sachs for around $136m, Reuters has reported.

The Colombian conglomerate, which has large investments in the cement and energy industries, sold its share to the finance company’s West Street Infrastructure Partners III for 407bn pesos, which is 2.5 times the amount it invested in the business in 2012.

The same day, Grupo Argos reported that its Q2 net profit fell 41.6% to $72.1 million (215.4 billion pesos) from the previous year.

Compas mainly moves coal and cement through its ports in Colombia, which have a total capacity of over 13 million metric tonnes.

In 2016, the port operator had an income of 165bn pesos.

LATEST PRESS RELEASES

Enhanced Hazcheck Restrictions Portal Launched, 1 May 2018

Exis Technologies, with the support of leading shipping and freight insurers, TT Club and UK P&I Clu... Read more

Successful participation and presentation at exhibition in Beira, Mozambique

The exhibition series ‘Intermodal Africa’ organized by Transport Events is always a good possibility... Read more

Protectors of Esbjerg's new East Port quay

The German based Headquarters of ShibataFenderTeam recently completed an order for the Port of Esbje... Read more

Aquaplot joins Technology Transfer Programme of European Space Agency

Start-up for ocean route planning enters ESA’s Business Incubation Centre (BIC) Read more

AMRO Increases Scope To Cover The GCC Region

AMRO, a specialist marine equipment and services provider, is proud to announce that they will now c... Read more

SAFE AND SECURE

Ninth Consecutive “Excellent” Coast Guard Security Assessment Awarded to Port of Baltimore Read more

View all