According to sources, Chile’s National Economic Prosecutor’s Office (FNE) has unconditionally given the green light to the sale of the SAAM port terminal and logistics operator to Hapag-Lloyd. The deal, initially announced in October last year, has been successfully completed following approval, with the transaction expected to close in the coming weeks. Worth approximately USD 1 billion, this acquisition will enable Hapag-Lloyd to acquire interests in 10 terminals located in six countries.
The port terminals in the Chilean cities of Iquique, Antofagasta, San Antonio, San Vicente and Corral, as well as Port Everglades in the United States (Florida), Mazatlán in Mexico, Buenavista in Colombia, Guayaquil in Ecuador and Caldera in Costa Rica, are part of of the assets acquired in the deal. In addition, the purchase includes the customs warehouses of SAAM Logística, the land logistics operations in Chile and the properties in which this entity currently operates.
For Hapag-Lloyd, obtaining confirmation from the antitrust authorities of all the countries involved in the process, including the US, Mexico, Honduras, Costa Rica, Colombia, Ecuador and Uruguay, represents a significant milestone. The German airline will take over 100% of the shares of SAAM Ports S.A. and SAAM Logistics S.A. The 10 terminals in North, Central and South America had a combined movement of approximately 3.5 million TEUs in 2021.
Investment in terminal infrastructure, especially in Latin America, a crucial market for the container line, has long been a central pillar of Hapag-Lloyd’s growth strategy. With this acquisition, the company will further strengthen its position in the region and position itself to take advantage of new expansion opportunities.
Sources: Hapag Lloyd, Splash247 & Alphaliner
