DP World will acquire Puertos y Logistica in a $502m transaction.

DP World acquired a 71.3% stake in Puertos y Logistica from Minera Valparaiso and other shareholders associated with the Matte Group. The company is listed on the Santiago stock exchange, and the acquisition will be effected via a tender offer to acquire all outstanding shares of the business. Under the tender process, DP World will offer $502m in consideration for 100% equity ownership. "We are delighted to extend our global footprint with a major entry into Chile, Latin America’s most developed economy, with attractive growth prospects and a dynamic business environment. These new assets will allow DP World to serve cargo owners and shipping lines at five key gateways on the west coast of South America in Posorja (Ecuador), Callao and Paita (Peru) and San Antonio and Lirquen (Chile)." Sultan Ahmed bin Sulayem, DP World Group Chairman and CEO.