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Chilean logistics company SAAM buys into Costa Rican port

Chilean logistics company SAAM buys into Costa Rican port
Chilean logistics company SAAM, has signed an agreement to acquire from the company Sociedad Portuaria Regional de Buenaventura (SPBRUN), which controls two concessions at Puerto Caldera, on the Pacific coast of Costa Rica.

SAAM is paying $48.5m for a 51% stake in Sociedad Portuaria de Caldera (SPC) and of Sociedad Portuaria Granelera de Caldera (SPGC).

The two companies jointly reported revenues for $46.6m last year and the second busiest cargo terminals in the country. The deal requires regulatory approval from the authorities.

Last year, Puerto Caldera handled more than 4.9m tonnes of cargo comprising 238,000 teu and bulk commodities, such as cereals, fertilisers, raw materials, and flour.

“This investment is a good reflection of the growth strategy that we are implementing in the region and this is a very well-managed enterprise, to which we can add value,” stated Macario Valdés, ceo of SAAM. “In addition, it allows us to join forces with partners who have knowledge of and experience in the local market,” he added.

With this acquisition, SAAM continues advancing in its diversification and globalisation strategy and strengthens its position as one of the leading operators in Latin American ports, adding Puerto Caldera to the 10 terminals it already operates in six countries in Latin America and one in Florida, USA.

The Chilean company was carved out from CSAV in 2012, and provides port services, tugboats, and logistics services, with operations in 15 countries in North, Central and South America.

It has strategic partners in the various markets and business divisions in which it participates, among which are the Romero Group from Peru, Seattle-based SSA Marine with a significant presence in the global port industry, American Airlines and Royal Boskalis.