Chilean multinational port services company SAAM has taken 100% control of Iquique Terminal Internacional (ITI) – the main port terminal in Chile’s far north – with an $11.05m purchase of the last 15% it needed.
SAAM made the transaction through its subsidiaries SAAM Puertos and SAAM Inversiones, acquiring the final chunk from Grupo Empresas Navieras (GEN).
ITI holds the concession at the Port of Iquique, the fifth busiest port in Chile, until 2030. Its multipurpose terminal has two docks, which have received post-Panamax vessels.
The deal continues SAAM’s regional expansion strategy as it operates 11 port terminals in six countries in the Americas.