Hapag-Lloyd AG acquires SM SAAM’s terminal business

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Hapag-Lloyd AG and SM SAAM S.A. have announced the signing of a binding agreement that will see Hapag-Lloyd acquire 100 % of the shares of SAAM Ports S.A. and SAAM Logistics S.A. The deal will thus see Hapag-Lloyd inherit the SM SAAM’s terminal business and associated logistics services.

Hapag-Lloyd AG acquires SM SAAM’s terminal business
Photo: daryl_mitchell / Flickr / CC BY-SA 2.0 (image cropped)

In a statement, Hapag-Lloyd AG said the deal, which also includes real estate assets related to SM SAAM’s logistics business, was worth around USD 1 billion. SM SAAM’s tugboat services and airport logistics services businesses are not part of the transaction and will remain with SM SAAM.

Chile-based SM SAAM is a terminal operator, logistics company and towage provider active in multiple countries in the Americas. It was founded in 1960 and has been listed on the Santiago Stock Exchange (SSE) since 2012.

SM SAAM’s terminal business participations comprise of 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 complement the terminal business at five locations in Chile, with together around 300 employees.

Commenting on the deal, Rolf Habben Jansen, CEO of Hapag-Lloyd, said:

“Investing in terminal infrastructure is a key element of our strategic agenda, and Latin America is one of our stronghold markets. Acquiring SM SAAM’s terminal operations and complementary logistics services will help us to further strengthen our business while building up a robust and attractive terminal portfolio.”

The closing of the transaction is subject to approval by the relevant antitrust authorities and to additional conditions customary for a transaction of this kind.


Photo: daryl_mitchell / Flickr / CC BY-SA 2.0 (image cropped)

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