Business Latin America

  Hapag-Lloyd with $1 Billion Acquisition of SM SAAM and expands terminal business in Latin America The German container shipping company announced Tuesday it has signed a binding agreement to acquire the entire terminal business of SM SAAM S.A. for around $ 1 billion. The agreement comprises 100% of the shares of SAAM Ports and SAAM Logistics, and thereby SM SAAM’s entire terminal business and associated logistics services. Source: GCaptain Hapag-Lloyd is continuing to spend its pandemic profits to expand and modernize its business. Chilean-based SM SAAM was founded in 1960 and has been listed on the Santiago Stock Exchange (SSE) since 2012. The acquisition gives Hapag-Lloyd a stake a in 10 terminals in six North, Central and South American countries, with around 4,000 employees and a combined container throughput of around 3.5 million TEU in 2021. The related logistics services business comprises five locations in Chile, with together around 300 employees. SM SAAM’s tugbo...

ACCIONA targets 2GW of installed renewables capacity in Latin America by 2020 Acciona Energía has announced its plans to double its operational renewables capacity to over 2GW in Latin America by 2020. The announcement was made during the official inauguration ceremony of the 246MWp El Romero Solar photovoltaic plant in the Atacama Desert in Chile . Acciona has connected the El Romero solar plant to the county’s Interconnected Central System (SIC) in 2016. The Spanish clean energy company, which currently owns 897MW of wind and photovoltaic power capacity in Chile , Mexico and Costa Rica , plans to put 700MW of projects under construction phase in the last trimester of this year with targeted commissioning in 2018 and 2019. The firm said other projects, which are at very advanced stage of development, are planned to be completed in 2020. This brings the total installed clean generation capacity in Latin America to 2GW. All of these renewable energy ...

Sky Airline to Pursue IPO for Continued Growth in Latin America (Latin America Business). The Chilean low-cost carrier Sky Airline is nowadays seeking financial options to fit their investments needs in the near future. For that purpose, top management has embarked in a non-deal roadshow with local and international investment banks in Santiago, Rio de Janeiro and New York in order to review different options to raise new funds in the midst of an ambitious expansion plan of US $1 billion, projected for 2020. The plan includes a total fleet renewal that will add 21 brand new Airbus A320neo, with the delivery of the first 6 units taking place during 2018. They will completely replace today’s fleet composed by 13 A319-100 and 2 A320-200 by 2020. The US $1 billion fleet investment is payable within the next 20 years, the actual length of the rental contract of the aircraft, and it’s projected that this move will bolster in 24% the total seat capacity of the firm. Up to date...