With this transaction, the company obtained profits amounting to US$33 million and continues its strategy of focusing its investments in companies where it may exercise a controlling position.
Santiago, April 21, 2017. SM SAAM reported that the Romero Group accepted the conditions established to sell them SAAM’s 35% stake in Trabajos Marítimos S.A. (Tramarsa). The price established for the minority package of shares amounts to US$ 124 million, which will generate for the Chilean company an extraordinary profit of US$33 million.
“This decision is part of our strategy of seeking control, either directly or through Joint Ventures, in our operations and assets”, explained Macario Valdés, SAAM’s CEO.
The transaction strengthens the robust financial position of the Company. “This sale not only allows us to do a good business, but it also provides us with additional resources to take advantage of any opportunities that may arise and that we are constantly evaluating”, stated Valdés.
The transaction must be formalized before May 6, when the Romero Group will control 100% of the company that operates towage, port infrastructure and logistics businesses in Peru and Bolivia.
