Grupo Argos Announces Sale of 50 Percent Stake in Compañía de Puertos Asociados to West Street Infrastructure Partners IIIAugust 14, 2017
S&C represents Grupo Argos in the sale of its 50 percent stake in the port operator Compañía de Puertos Asociados for COP 407 billion (equivalent to approximately $136 million) to West Street Infrastructure Partners III, an investment fund managed by Goldman Sachs.
Compas is a Colombian-based cargo and container port network, operating six ports in Colombia and one port in Houston, Texas. It is the only port operator in Colombia with operations on both the Caribbean and Pacific coasts. At the end of 2016, Compas had total capacity in excess of 13 million metric tons and recorded revenues and EBITDA of approximately $54 million and $14 million, respectively.
Grupo Argos is a publicly traded Colombian infrastructure holding company with investments focused on the cement and concrete, energy and road and airport concession businesses.
The S&C team on the transaction was led by Sergio Galvis and Christopher Mann, along with Courtland Morrice.