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15 November 2019 The on-line newspaper devoted to the world of transports 13:54 GMT+1



December 5, 2011

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Original news
They continue the negotiations for the fusion of the services of towing in America of SAAM and SMIT

Agreed the appraisal of the two activities, pairs respective to 520 million and 470 million dollars

Shipowning group Chilean CSAV (Compañía American South de Vapores) and Dutch SMIT (group Royal Boskalis Westminster) has reached a first agreement on the fusion of the respective activities of marine and harbor towing in America ( of 10 November 2011). The two parts have agreed that such activities carried out from the SAAM (South American Agencia Aéreas y Marítimas), branch of the CSAV, have a value of 520 million dollars, while the analogous activities operated from the SMIT are worth 470 million dollars. Such esteem will be subordinates to procedure of two diligence.

Other reached points of agreement from CSAV and SAAM are relative to the activities and the assets that they will be entrusted to joint venture let alone to its organization and its strategy of business. The two parts have specified that a binding agreement still is not defined and that, if it is, will have to be examined from respective consiglii of administration and the shareholders.



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