Pablo Iacobelli

Carey counsels Hapag-Lloyd on acquisition of SAAM port business

Carey has counselled German container shipping company Hapag-Lloyd in Chile on the acquisition of the port terminals and logistics business of SAAM, a listed Chilean multinational company providing foreign trade services.

This transaction was agreed on 4 October, for approximately USD 1 billion, the closing of which is subject to regulatory approvals in Chile and in several foreign jurisdictions.

Through the acquisition, Hapag-Lloyd will acquire the entire operation of SAAM’s port terminals business, which includes ten terminals in six countries in the Americas, and SAAM’s entire inland logistics business.

The transaction involved the jurisdictions of Chile, Germany, Colombia, Ecuador, Costa Rica, Mexico and the United States. Aguilar Castillo Love, Bustamante Fabara, Creel García-Cuéllar Aiza y Enríquez, Freshfields Bruckhaus Deringer, Greenberg Traurig and Posse Herrera Ruiz also advised Hapag-Lloyd; while Claro & Cía and Simpson Thacher advised SM SAAM.

José Tomás Palacios and Giordano Peri acted as in-house counsels to SM SAAM; while Thomas Mansfeld, Anne-Kathrin Drettmann, Markus Wrogemann and Fabian Kolf acted as in-house counsels to Hapag-Lloyd.

The teams from the participating firms included the following lawyers:

  • Freshfields Bruckhaus Deringer: Partner Natascha Doll. Senior Associate Carsten Bork.
  • Posse Herrera Ruiz: Partners Jaime Herrera and Gabriel Sánchez. Associate Daniel Meza.
  • Aguilar Castillo Love: Partners Marco Solano Gómez and Rubén Zamora Castro. Associates Stephanie Howard Peña and Karlo Suñol Swirgsde.
  • Bustamante Fabara: Partner José Rafael Bustamante C. Director Kirina González. Senior Associate Gino Ivich.
  • Creel García-Cuéllar Aiza y Enríquez: Partner Jorge Montaño. Associates Laura Holm and Rebeca Díaz. Law clerk Ernesto Neftalí Ramos Urías.
  • Greenberg Traurig: Shareholder Yosbel Ibarra. Associate Valentín Arenas. Foreign associate Humberto Molina. Foreign law clerk Beatriz Recalde.
  • Claro & Cía: partners Rodrigo Ochagavía and Jorge Carraha. Counsel Philippa Cooper. Associate Sofía La Roche.
  • Simpson Thacher: Partner Juan F. Méndez.
  • Carey: Partners Pablo Iacobelli (pictured), Marcos Ríos, Lorena Pavic, Francisca Corti, Manuel José Garcés and José Pardo. Associates Julio Recordon, Valentina Kuscevic, Juan Pablo De la Maza, Javiera Avilés, Fernanda Pardo, Jaime Coutts, Javiera Herrera, Gonzalo Soto, Oscar Lizana, Ismael Bahamonde and Nicolás Fontaine.

L Giselle Estrada