Chile's SAAM group has taken over the second-biggest port in Costa Rica.

The towage and ports company said it had acquired 51% of two concessions from Sociedad Portuaria Regional de Buenaventura (SPBRUN) at Puerto Caldera on the Pacific coast.

It will pay $48.5m for Sociedad Portuaria de Caldera (SPC) and Sociedad Portuaria Granelera de Caldera (SPGC).

They handle 4.9m tons of cargo annually and had combined revenue of $46.6m