January 21, 2020
Chilean logistics company SAAM has struck a deal to buy Intertug Investment Holding, a towage services company with operations in Colombia, Mexico and Honduras.
SAAM will spend $54.5 million for 70% of Intertug, based on an enterprise value of $98 million, and carry out the acquisition through a capital increase and a share purchase, it said in a securities filing.
It also said it will enter the Colombian market through the acquisition and add to its business in Mexico and Central America.
Chilean logistics company buys 70% of the towage company to enter the Colombian market and add assets in Mexico and Central America