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Hapag-Lloyd swoops for SAAM’s terminal business in $1bn deal

Germany’s Hapag-Lloyd has struck a deal with Chilean multinational port services company SAAM to buy its subsidiaries SAAM Ports and SAAM Logistics and thereby the entire company’s terminal business and associated logistics services for around $1bn.

The deal will see the cash-rich liner take over SAAM’s ownership stake in 10 port terminals throughout six countries in the Americas, bonded warehouses and integrated logistics operations for importers and exporters.

The agreement also includes the sale of the real estate assets where SAAM Logistics currently operates and will materialise once the relevant approvals have been received and conditions precedent have been fulfilled.

“Investing in terminal infrastructure is a key element of our strategic agenda, and Latin America is one of our stronghold markets. Acquiring SAAM’s terminal operations and complementary logistics services will help us to further strengthen our business while building up a robust and attractive terminal portfolio,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.

Hapag-Lloyd has been expanding its involvement in the terminal sector, most recently by announcing that it aims to acquire a 49% stake in the Italy-based Spinelli Group, by acquiring a stake in JadeWeserPort in Wilhelmshaven, and by investing in the construction of Terminal 2 in the Egyptian port of Damietta. Hapag-Lloyd also has a stake in the container terminal Altenwerder in Hamburg and in Terminal TC3 of the Moroccan port of Tangier.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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