The Firm is representing Sudamericana, Agencias Aéreas y Marítimas S.A. (“SAAM”), a subsidiary of Sociedad Matriz SAAM S.A., a Chilean company listed on the Santiago Stock Exchange, in connection with its proposed joint venture with Boskalis Holding B.V. (“Boskalis”), a subsidiary of Royal Boskalis Westminster N.V., a Dutch company listed on the NYSE Liffe Amsterdam. SAAM and Boskalis intend to combine and develop their respective harbor and towage businesses in Brazil, Mexico, Canada and Panama.
SAAM and Boskalis signed a Framework Agreement which contemplates, among other conditions, obtaining regulatory approvals. The arrangement, if consummated, would involve two separate joint ventures, with Saam and Boskalis holding 51% and 49%, respectively, of the joint venture entity covering Mexico, Canada and Panama, and Saam and Boskalis each holding 50% of the joint venture entity covering Brazil. The combined sales of both joint-ventures is estimated in U.S.$250 million, with a fleet of more than 100 tugboats.
The Simpson Thacher team included: David Williams, Juan Francisco Méndez, Borja Marcos and Rodrigo Surcan dos Santos (M&A); and Andrew Purcell (Tax).