8 February 2017

The “Instituto Costarricense de Puertos del Pacífico” (INCOP) (Costarrican Institute of Pacific Ports), “Comisión para Promover la Competencia” (Commission to Promote Competition) and “Contraloría General de la República” (Comptrollership of the Republic) of the country approved the purchase of 51% of Puerto Caldera.

With this, SAAM accounts its first terminal in Central America, totaling 12 terminals in its business portfolio.
February 8, 2017. SAAM, multinational Chilean company providing port, towage and logistics services in America, materialized the acquisition of the two concessions in Puerto Caldera, the major terminal of Costa Rica’s Pacific Coast and the second in terms of cargo transferred in the country. This took place after having received the approval of local regulatory authorities.

With the materialization of this milestone, SAAM now controls 51% of Sociedad Portuaria de Caldera (SPC) and of Sociedad Portuaria Granelera de Caldera (SPGC), whose transferred annual volume totals 5.5 million tons. The operation involved a disbursement by SAAM of US$48.5 million for the mentioned percentage of the share capital of both companies, which jointly reported revenues for US$55.5 million in 2016.

“At SAAM, we are always in search of new business opportunities that will enable us to continue consolidating our leadership position in America. The acquisition of 51% of Puerto Caldera allows us to grow in a country where we have had good results, through a well-managed company to which we can add value, and at the same time, allows us to join efforts with knowledgeable and experienced partners”, expressed SAAM’s CEO, Macario Valdés.

The company includes, apart from SAAM’s majority position, Costa Rican companies Saret (21%) and Grain Logistics (19%), as well as Colombian “Grupo Empresarial del Pacífico” (9%).

Having closed this process, SAAM continues advancing in its diversification and internationalization strategy and strengthens as one of the leading port operators in Latin America.

Source credit: http://www.saam.com/en/investors/saam-materialized-entry-to-second-most-important-port-in-costa-rica/

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