German carrier’s SM SAAM terminal business acquisition finalised

German carrier’s SM SAAM terminal business acquisition finalised

August 5, 2023

Hapag-Lloyd has successfully completed its 100% acquisition of SM SAAM’s terminal business and related logistics services, which was announced in October last year.

The transaction has been approved unconditionally by the relevant antitrust authorities of all countries involved in the acquisition process.

“The acquisition significantly increases our footprint in Latin America and underlines our commitment to the Latin American markets,” said the carrier’s CEO, Rolf Habben Jansen.

Investing in terminal infrastructure was a key element of Hapag-Lloyd’s strategic agenda, and Latin America was one of its key markets, he added.

The transaction includes interests in terminals in Iquique, Antofagasta, San Antonio, San Vicente and Corral (Chile), Port Everglades (United States/Florida), Mazatlán (Mexico), Buenavista (Colombia), Guayaquil (Ecuador) and Caldera (Costa Rica) as well as related logistics services.

The new entity will be led by its CEO, Mauricio Carrasco, who has been managing director of the terminals division within the SAAM Group since 2020.

The carrier has continuously expanded its involvement in the terminal sector and holds stakes in the Container Terminal Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, the Italy-based Spinelli Group, the India-based J M Baxi Ports & Logistics Limited, Terminal TC3 in Tangier, and Terminal 2 in Damietta, Egypt, which is currently under construction.

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