German container ship giant Hapag-Lloyd has expanded again with a $1bn deal to acquire terminals and logistics interests in South America.
The company is buying 100% of Chilean group SAAM’s SAAM Ports and SAAM Logistics, as well as real estate assets related to the logistics business.
SAAM said the sale will provide major resources to focus on the development and expansion of its towage and air cargo logistics businesses, which account for 55% of Ebitda.
