Sudamericana bought out its joint venture partner in American Joint Ventures.

Sudamericana Agencias Aéreas y Marítimas bought out its joint venture partner, Boskalis, in Joint Ventures relating to Harbor and Towage Operations in Brazil, Canada, El Salvador, Mexico and Panama. Financial terms were not disclosed. SAAM and Boskalis signed a Share Purchase Agreement which contemplates, among other conditions, obtaining regulatory approvals. The arrangement, if consummated, would involve SAAM acquiring from Boskalis the remaining 49% of the joint venture entity covering Mexico, Canada and Panama, the remaining 50% of the joint venture entity covering Brazil, and the remaining 50% of the joint venture entity covering El Salvador.