SAAM to Acquire 51 Pct in Puerto Caldera

SAAM SAAM, a Chilean provider of port, towage and logistics services, has inked an agreement with Colombias Sociedad Portuaria Regional de Buenaventura (spbrun) to acquire the control of the two concessions at Puerto Caldera, major terminal of the Pacific Coast of Costa Rica and the second in terms of cargo transferred in the country. SAAM would control 51% of Sociedad Portuaria de Caldera (SPC) and of Sociedad Portuaria Granelera de Caldera (SPGC), which together transferred more than 4.9 million tons last year. The Chilean company shall disburse USD 48.5 million for the mentioned percentage of the share capital of both companies, which jointly reported revenues for USD 46.6 million in 2015. Prior to the transfer, the operation must be approved by Costa Rica’s regulatory bodies. Indeed, this transaction will originate a company that, aside from SAAM’s majority position, will be composed by Costa Rican companies: Saret (21%) and Logística de Granos (19%), as well as by the Colombian company Grupo Empresarial del Pacífico (9%), Macario Valdés, CEO of SAAM, said. Following the completion of the acquisition, SAAM would have a total of 12 terminals in seven countries in the Americas.