DP World Offers $502 Million to Buy Chile Ports Operator Pulogsa - Bloomberg

DP World Offers $502 Million to Buy Chile Ports Operator Pulogsa - Bloomberg:

DP World Ltd. plans to offer $502 million to acquire Chile ports company Puertos y Logistica as the Dubai-based ports operator expands in Latin America.

DP World entered into an agreement to acquire 71.3 percent of Pulogsa, as the Santiago-based company is known, from Minera Valparaiso and shareholders associated with the Matte Group, the company said. The acquisition will be made via a tender offer to acquire all outstanding shares in Pulogsa.

Pulogsa operates the Puerto Central port in San Antanio and Puerto Lirquen port in southern Chile. It is listed on the Santiago stock exchange and has a market value of about $170 million.