• BIST 1.103
  • Altın 460,409
  • Dolar 7,6683
  • Euro 8,9576
  • İstanbul 21 °C
  • Ankara 21 °C

SAAM to Take Majority Stake in Intertug

SAAM to Take Majority Stake in Intertug
Chilean Sociedad Matriz SAAM has signed an agreement with the shareholders of Intertug Investment Holding, a towage services provider operating in Colombia, Mexico and Central America, to acquire 70% of the company.

The partnership with Intertug allows us to enter Colombia, one of the fastest-growing economies in Latin America, and to reinforce our presence in Mexico and Central America,” Macario Valdés, SAAM’s CEO, commented.

With the newest acquisition, SAAM Towage continues to consolidate its position as the largest tug operator in the Americas. Once the deal is completed, SAAM will operate a fleet of more than 170 tugs in 11 countries.

“This transaction is consistent with our growth and internationalization strategy and is complemented by the acquisition of 100% of the operations in Canada, Mexico, Brazil and Panama, and our recently announced entry into El Salvador,” the executive added.

Intertug has more than 25 years’ experience providing harbor towage, offshore and special services in Colombia, Mexico and Central America. Its 25-vessel fleet logs more than 18,000 maneuvers a year, generating around USD 44 million in towage service revenue annually.

As informed, the agreement is subject to approval from regulatory authorities and compliance with other relevant conditions. SAAM plans to finance the acquisition with a combined capital increase and share purchase.

 

TURKISH MARITIME NEWS

This news is a total 388 time has been read
  • Comments 0
    UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
    Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
    Bu habere henüz yorum eklenmemiştir.
Other News
All Rights Reserved © 2006 TURKISH MARITIME | İzinsiz ve kaynak gösterilmeden yayınlanamaz.
Phone : 0090 212 293 75 48 | Fax : 0090 212 293 75 49 |