Lorena Pavic and José Pardo

Carey represents Hapag-Lloyd in notification of purchase from SAAM Group

Carey has represented Hapag-Lloyd in the merger control notification processes in connection with the acquisition of the port terminals and logistics businesses of the SAAM Group.

This transaction was completed on 1 August for approximately USD 1 billion, and involved the jurisdictions of Chile, Colombia, Costa Rica, Ecuador, USA, Honduras, Mexico and Uruguay. As a result, Hapag-Lloyd AG acquired ownership and control over a broad portfolio of port terminals with a presence throughout the Americas and entered the port logistics business.

The firm advised the acquiring party in the mandatory notification process before the National Economic Prosecutor’s Office and also coordinated notification processes in six Latin American countries. The transaction was approved outright in all relevant jurisdictions.

This deal stands out as one of the few concentrations that have been investigated in Phase II by the National Economic Prosecutor’s Office and finally approved unconditionally by the authority. The transaction was also analysed and approved outright in Phase II in Ecuador and Costa Rica.

Other firms advising Hapag-Lloyd were Aguilar Castillo Love in Costa Rica and Honduras; Bustamante Fabara in Ecuador; Creel García-Cuéllar Aiza y Enríquez in Mexico; Greenberg Traurig in the US; Guyer & Regules in Uruguay; and Posse Herrera Ruiz in Colombia. Basham Abogados, Brigard & Urrutia, and Claro & Cía. advised SM SAAM in Mexico, Colombia and Chile, respectively.

The in-house lawyers advising on this transaction were José Tomás Palacios and Giordano Peri for SM SAAM; and Thomas Mansfeld, Fabian Kolf and Anne-Kathrin Drettmann for Hapag-Lloyd. Compass Lexecon (Economists) acted as financial advisor through its team comprising Fernando Coloma, Gabriel Fernández, Vicente Munita and Bernardita Silva.

The teams of the participating firms were composed of the following lawyers:

  • Carey: partners Lorena Pavic (pictured left) and José Pardo (pictured right). Associates Gonzalo Soto, Ismael Bahamonde and Fernando Flores.
  • Claro & Cía: partner José Miguel Huerta. Associates Juan Pablo Celis and Tomás Gothe.
  • Posse Herrera Ruiz: partner Jorge de los Ríos and associate Jorge Lamo.
  • Brigard Urrutia: partner Alejandro García de Brigard and director Nicolás Cardona.
  • Aguilar Castillo Love: partners Andrea Saenz Mederas, Jhon Aguilar Quesada and Marco Solano Gómez in Costa Rica. Partner Juan José Alcerro-Milla and associate Ondina Santos in Honduras.
  • Bustamante Fabara: partner José Rafael Bustamante C. and director Kirina González.
  • Creel García-Cuéllar Aiza y Enríquez: partner Jorge Kargl. Associates Aleine Obregón and Miranda Muñoz.
  • BASHAM: partner Amilcar Peredo and associate León Jiménez.
  • Guyer & Regules: partner Juan Manuel Mercant, counsel Jonathan Clovin and associate Luciana López.
  • GreenbergTraurig: shareholder Stephen Pepper and counsel Tarica Chambliss.

L Giselle Estrada