Sunday 24 June 2018
 
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MAJOR PERU DEAL

DP World acquires 100pc of the shares of CAM

DP World acquires Cosmos Agencia Marítima for $315.7m

DUBAI, 27 days ago

Dubai-based global marine terminal operator DP World today (May 28) revealed its successful acquisition of Cosmos Agencia Marítima (CAM), a subsidiary of Andino Investment Holding, in Peru, for $315.7 million.

On March 18, DP World and Andino Investment Holding announced an agreement for the Dubai firm to acquire 100 per cent of the shares of CAM, a leading fully integrated logistics provider in Peru, said a statement from DP World.

The deal also includes 100 per cent of the shares in Triton Transports and Neptunia, and 50 per cent in Terminales Portuarios Euroandinos, in the Port of Paita, which is the second largest container terminal in Peru, it said.

This transaction expands DP World’s footprint in Peru by adding another container terminal to the existing terminal at Callao as well as integrated logistics services including warehousing, distribution and cargo handling to provide tailor made solutions to a range of industrial sectors in the country, it added.

Further, it also complements the first smart logistics centre in Lurin which is connected through optical fibres to Callao and delivers information to the port and customs enabling customers to manage the movement of their cargo using their own electronic devices and smartphones, said a statement.

DP World group chairman and CEO Sultan Ahmed Bin Sulayem said: “We are delighted to add Cosmos Agencia Marítima to our Americas region interests.”

“Latin America is a very important market for us and this move adds value for our customers in the region with logistics services to our existing container terminal in Callao and inland container terminal in Lurin,” he said.

“The acquisition underlines the confidence we have in Peru and the potential of its economy. As leaders of global trade, we believe the logistic sector in the country has great potential,” he added.

Gerard van den Heuvel, CEO of DP World Peru, said: “The acquisition diversifies the revenue of our business through a wider range of logistics services.”

“We already operate the largest container facility in the country in Callao which has rapidly become a leader for trade along the west coast of South America and this will enhance our services even further,” he added. – TradeArabia News Service




Tags: | DP World |

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