DP World, a major global port operator, signed an agreement with the Matte family to acquire 71.3% of the Chilean company Puertos y Logística S.A. (Pulogsa) and launch a takeover bid for the company’s shares.
Puertos y Logística is the mother company of Chile’s main multipurpose terminals, Puerto Central and Puerto Lirquén.
The transaction is valued at $750 million. Subject to adjustments, the transaction involves payment of $502 million for the shares and the assumption of debt worth $226 million. This is the first Chilean investment by the multinational port operator with headquarters in Dubai (United Arab Emirates) and owner of 78 terminals worldwide.
Cuatrecasas advised DP World on the transaction through a corporate law team led by Javier Villasante and Mariano Ucar, together with associates Álvaro López de Ceballos and Marta Benjumea.