GP assists Intertug with its sale to SAAM

Gómez – Pinzón has advised Interlug on the sale of a majority stake to SAAM

Gómez-Pinzón in Bogotá has assisted Colombian towage company Intertug to complete the sale of 70% of post-capitalization shares, including its Mexican subsidiaries to Chilean logistics company SAAM for $50 million.

Through this investment, SAAM Towage begins offering towage services in the Colombian market, expands its operations in Mexico and Central America and gains an important base for operations in the Caribbean – where Intertug has established a prominent commercial and operating presence.

The transaction represents SAAM’s entry into Colombia, while it also expands the company’s presence in Mexico and Central America, where Intertug also operates. The purchase gives SAAM closer access to the Caribbean region too, where it aims to grow.

The deal was first signed in January last year. The completion faced challenges after the covid-19 pandemic broke out in March 2020, delaying the Colombian and Mexican antitrust approvals for nearly a year.

Marcario Valdés, SAAM’s CEO, highlighted “With this deal, we improve our standing as the top tug operator in the Americas. It is consistent with our strategy of being leaders in the consolidation process that the industry is experiencing. Our current coverage in the Americas is second-to-none and we are taking that a step farther as we enter the Colombian market with Intertug.”

Interlug was advised by Gómez-Pinzón´s team led by partner Natalia Garcia Arenas (pictured left) and associates Andrés Felipe Fonseca and Alvaro Rueda in Bogotá.

While SAAM was counseled by Brigard Urrutia´s team formed by partners Tomás Holguín (pictured top right) and Jaime Robledo (pictured bottom right) and associate Gonzalo Orrego.