Hapag-Lloyd announced its successful takeover of Chile-based terminal operator, logistics company and towage provider SM SAAM S.A after antitrust authorities approved the deal.

The world's fifth-largest carrier entered into the agreement back in October 2022 for a sum of around USD1 billion. This included a 100% acquisition of the shares of SAAM Ports S.A and SAAM Logistics S.A, consisting of all terminal business and associated logistics services, including real estate assets.

Hapag-Lloyd now controls terminals in Iquique, Antofagasta, San Antonio, San Vicente and Corral, Chile; Mazatlán, Mexico; Buenavista, Colombia; Guayaquil, Ecuador; Caldera, Costa Rica; and Port Everglades, United States.

“We are very pleased about the successful completion of this transaction, which significantly increases our footprint in Latin America and underlines our commitment to the Latin American markets. Looking ahead, we will focus on further developing the business and on continuing to offer the best quality to all of SAAM Terminals’ customers,” said Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

Terminal investments have been driving Hapag-Lloyd's Strategy 2023: to become a global player and grow within its main markets, such as Latin America.

“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,” said Rolf Habben Jansen, CEO of Hapag-Lloyd, back in October 2022.

Adding to this acquisition, the carrier purchased shares in Italy-based Spinelli Group and India-based J M Baxi Ports & Logistics Limited in 2023. It also holds stakes in JadeWeserPort in Wilhelmshaven, Germany; in Terminal 2 in Damietta, Egypt; Terminal TC3 in Tangier, Morocco; and Container Terminal Altenwerder in Hamburg.