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DP World buys Cosmos Agencia Maritima for $315.7m

LBR Staff Writer Published 19 March 2018

DP World has acquired Peru-based logistics services provider Cosmos Agencia Maritima (CAM) for $315.7m.

CAM owns a fully integrated logistics service business, Neptunia and Triton Transport, that provides solutions to its customers.

It provides an integrated platform of solutions in activities associated to foreign trade, product storage and distribution, as well as freight services that support development and implementation of industry specific projects.

The company’s services include stevedoring and handling of all types of cargo, owing and pilotage, maritime and river transport. It also involves in the maritime and river terminals operations, as well as underwater operations.

Cosmos also holds a 50% stake in in Terminales Portuários Euroandinos in the Port of Paita (Peru), which is claimed to be the second largest container terminal in the country.

The deal, which is subject to regulatory approvals, also includes the acquisition of certain real estate assets used for business operations from Andino Investment Holding, a parent firm of Cosmos.

DP World Group chairman and CEO Sultan Ahmed Bin Sulayem said: “We are delighted to add Cosmos Agencia Maritima into the DP World portfolio and this acquisition supports our recent strategy of extending our core business into complementary sectors.

“The acquisition not only extends our footprint in Latin America, a region which we believe has significant growth potential but importantly adds to our existing presence Peru, where we already operate a container terminal in the port in Callao – a terminal that is one of the most efficient and productive in the region and has been consistently ranked as the best port in South America by its customers.”

DP World operates multiple related businesses ranging from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.

With over 50 related businesses in more than 40 countries across six continents, the company manages 78 operating marine and inland terminals.

In addition, the firm is planning to increase its current gross capacity of 88 million TEU to more than 100 million TEU by 2020.

Image: DP World Group chairman and CEO Sultan Ahmed Bin Sulayem. Photo: courtesy of DP World.