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...