Hapag lloyd acquires SAAM terminals

This portfolio represents one of the few remaining independent terminal groups and will see Hapag Lloyd AG take a 100 per cent shareholding in 10 facilities across six different countries throughout the Americas, thereby offering the German shipping line a stronger presence in the region.

In an announcement from both contracting parties, it has been disclosed that Hapag Lloyd is acquiring full shares of SAAM Ports S.A. and SAAM Logistics S.A. for a price of approximately US$1 billion. Real estate assets connected to the logistics business are included but SM SAAM’s tugboat services and airport logistics services businesses are not part of the transaction.

Chilean-based SM SAAM was founded in 1960 and had been listed on the Santiago Stock Exchange (SSE) since 2012, when the terminal and logistics business was spun-off from Chilean shipping operator, Compania Sud Americana deVapores (CSAV), as part of its economic recovery strategy.

The terminal business being acquired by Hapag Lloyd comprises a mix of terminals, with notable container and cargo handling operations in Latin America at San Antonio, San Vicente, Iquique, and Guayaquil. Additional facilities are also in Caldara (Costa Rico) Mazatlan(Mexico) and Port Everglades (FL).

SM SAAM confirmed it had around 4000 current employees.

In 2021 the portfolio handled an estimated 3.3 million TEU, with a total capacity of 5.6 million TEUper annum available.

SM SAAM is controlled by major Chilean conglomerate Quiñenco (part of the Luksic Group) with a 52.2 per cent ownership stake. It is also a major shareholder in CSAV.