Port, towage and logistics services company SAAM said it has signed through its subsidiary SAAM Puertos an agreement to acquire from the company Sociedad Portuaria Regional de Buenaventura (SPBRUN), 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.
With the materialization of this operation, SAAM will control 51 percent of Sociedad Portuaria de Caldera (SPC) and of Sociedad Portuaria Granelera de Caldera (SPGC), whose transfers total 4.9 million tons. The Chilean company shall disburse $48.5 million for the mentioned percentage of the share capital of both companies, which jointly reported revenues for $46.6 million in 2015. Prior to the transfer, the operation must be endorsed by Costa Rica’s regulatory bodies.
“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. Indeed, this transaction will originate a company that, aside from SAAM’s majority position, will be composed by Costa Rican companies: Saret (21 percent) and Logística de Granos (19 percent), as well as by the Colombian company Grupo Empresarial del Pacífico (9 percent).
With this acquisition, SAAM continues advancing in its diversification and globalization 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 the Region, plus one in Florida, U.S.