DP World acquires Cosmos Agencia Maritima for $315.7m

The acquisition of Peruvian logistics provider Cosmos Agencia Maritima (CAM) extends DP World’s reach in Latin America and continues the firm’s diversification into third-party logistics offerings.    Port terminal operator DP World has acquired the Peru-based logistics services provider Cosmos Agencia Maritima S.A.C. (CAM) for $315.7 million, the company said in a statement Sunday.
   According to DP World, CAM owns a fully integrated logistics service business that operates under the names Neptunia S.A and Triton Transport S.A. and offers end-to-end solutions to its customers.
   CAM’s logistics division offers an integrated platform of solutions in activities related to foreign trade, product storage and distribution, as well as freight services that facilitate development and implementation of industry specific projects.
   CAM also has a 50 percent stake in Terminales Portuários Euroandinos S. A., in the Port of Paita, Peru, which DP World said is the second largest container terminal in the country.
   Sultan Ahmed Bin Sulayem, chairman and chief executive officer of DP World, said the deal “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,” he added. “The addition of CAM will allow us to offer improved solutions to our customers and the option of alternative container capacity. Overall, we expect this acquisition to further diversify our revenue, improve the quality of our earnings and drive returns.”