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DP World completes Cosmos Agencia Maritima acquisition

LBR Staff Writer Published 29 May 2018

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

In March this year, DP World first entered into an agreement to acquire maximum stake in CAM from Andino Investment Holding.

CAM owns a fully integrated logistics service business, Neptunia and Triton Transport, which  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.

DP World Group chairman and CEO Sultan Ahmed Bin Sulayem said: “Latin America is a very important market for us and this move adds value for our customers in the region with logistics services to our existing container terminal in Callao and inland container terminal in Lurin.

The deal includes acquisition of 100% stake in Triton Transports and Neptunia, as well as 50% interest in Terminales Portuarios Euroandinos in the Port of Paita, which is the second largest container terminal in Peru.

The acquisition enables DP World to expand its operations in Peru with the addition of another container terminal to its existing terminal at Callao.

It will also help to expand integrated logistics services, including warehousing, distribution and cargo handling, to the customers in various industrial sectors in the country.

In addition, the acquired terminal complements the first smart logistics centre in Lurin, which is connected through optical fibres to Callao and provides information to the port and customs enabling customers to manage the movement of their cargo using their own electronic devices and smartphones.

DP World Peru CEO Gerard van den Heuvel said: “We already operate the largest container facility in the country in Callao which has rapidly become a leader for trade along the west coast of South America and this will enhance our services even further.”

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