Hapag-Lloyd completes SM SAAM terminal business acquisition

Hapag-Lloyd completes SM SAAM terminal business acquisition

August 2, 2023

Based on a deal announced in October 2022, Hapag-Lloyd successfully completed its 100% acquisition of SM SAAM’s terminal operations and related logistics services.

All relevant antitrust authorities in the countries involved in the acquisition process completely approved the transaction.

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

The chief executive officer of the new entity will be Mauricio Carrasco, the SAAM Group’s managing director for the Terminals Division from 2020. Former Hapag-Lloyd senior director of business administration region Latin America, Rodolfo Díaz will join him as chief financial officer.

Hapag-Lloyd has steadily increased its involvement in the terminal sector, with 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 the currently under construction Terminal 2 in Damietta, Egypt.

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