SAAM Sells USD 12 Mn Stake in Terminal Puerto Arica

Chilean port, towage and logistics services provider Sociedad Matriz SAAM has completed the sale of its 15% stake in Terminal Puerto Arica (TPA).

The sale, conducted through SAAM’s subsidiary¬†SAAM Puertos SA, amounted to USD 12.2 million.

As informed, the transaction was approved by the National Economic Prosecutor’s Office.

As of February 15, 2019, Inversiones Neltume and Inversiones y Construcciones Belfi, together, controlled 100% of the company.

Located in the Port of Arica, TPA serves the manufacturing and trade industries of Bolivia, Peru and northern Chile.

Earlier this month, the Chilean port and towage provider signed a deal with Dutch Royal Boskalis Westminster to acquire the equity stake in SAAM SMIT Towage.

Under the agreement, SAAM will own 100% of the joint venture which is valued at USD 560 million. The move is said to be in line with the company’s strategy aimed at strengthening and developing its towage business.

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