Saam Towage has finalised the deal to purchase 70 per cent of post-capitalisation shares of Colombian operator Intertug.
Through this investment of US$49.7 million, Saam will begin offering towage services in the Colombian market as well as expand its operations in Mexico, Central America, and the Caribbean.
The purchase will be financed through a combination of debt and corporate resources. The stake in Intertug will be acquired via a capital increase and share purchase, which will provide Saam with an adequate capital structure to advance its growth and efficiency plans.