BASHAM, RINGE Y CORREA HAS HELPED CHILEAN MARITIME LOGISTICS COMPANY SAAM ACQUIRE DUTCH COUNTERPART BOSKALIS’ STAKE IN A JOINT VENTURE FOR USD 200 MILLION DOLLARS
Mexico City October 30st 2019.- BASHAM, RINGE Y CORREA advised SAAM, through its Partners Juan José López de Silanes, Amilcar Peredo and Alejandro Barrera, and the Associates Gerson Vaca, Leon Jimenez and Francisco Matus, in the acquisition of 49% capital stock of Boskalis in SAAM SMIT TOWAGE MEXICO; including obtaining the authorization of COFECE and the Administraciones Portuarias Integrales to obtain approval for the transaction.
SAAM acquired 49% of the business in Mexico, Panama and Canada and 50% in Brazil through the deal.
Boskalis and SAAM entered their joint venture in 2014. The two companies shared towage activities in Brazil, Panama, Mexico and Canada.
The operation boasts a total fleet of 106 tugboats operating in 30 ports across four countries, including three of most important terminals in the Americas — Santos in Brazil, and Balboa and Colón in Panama.
Other firms involved: Simpson Thacher & Bartlett LLP and Demarest Advogados.
Deal status in Mexico: Closed.
SAAM is a Chilean-based multinational company that provides international trade services through three business divisions: Port Terminals, Towage and Logistics. With 57 years in business, SAAM has operations in 12 countries in North, Central and South America.
Operates 10 Port Terminals in 6 countries.
Major towage operator in the Americas with a fleet of 152 tugboats in 9 countries.
Warehousing, transport and airline services in 4 countries.