DP World instructs Cleary Gottlieb on $315m acquisition in Peru

Cleary Gottlieb acted for port operator DP World on its acquisition of Cosmos Agencia Maritima for $315.7 million. Cleary Gottlieb acted for port operator DP World on its acquisition of Cosmos Agencia Maritima for $315.7 million.

DP World is headquartered in Dubai and operates several ports across the world, including five in Latin Americca. It already owns and manages a container terminal in the Port of Callao, Peru.

Cosmos Agencia Maritima (CAM) is a Peruvian company which owns a fully integrated logistical services business. The transaction, announced on March 18 and subject to regulatory approvals, will also give DP World a 50% ownership in Terminales Portuarios Euroandinos, in the port of Patia, which is the second largest container terminal in Peru.

The legal team at Cleary Gottlieb acting for DP World included partners Richard Lincer, Corey Goodman, Antoine Winckler and Ari McKinnon.