Dubai-based port and terminal operator DP World has closed the acquisition of Cosmos Agencia Marítima (CAM), a logistics company in Peru.
In March this year, DP World and Andino Investment Holding announced an agreement for DP World to acquire 100% of the shares of CAM for USD 315.7 million.
This also includes 100% of the shares in Triton Transports and Neptunia, and 50% in Terminales Portuarios Euroandinos in the Port of Paita, which is the second largest container terminal in Peru.
As explained, the transaction expands DP World’s footprint in Peru by adding another container terminal to the existing one at Callao as well as integrated logistics services.
“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,” DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, commented.