Grupo Empresas Navieras S.A. made an offer to acquire the remaining 34% stake in Portuaria Cabo Froward S.A from Kawasaki Kisen Kaisha Ltd., Puertos y Logistica S.A. and others for CLP 11.6 billion.

Grupo Empresas Navieras S.A. (SNSE:NAVIERA) made an offer to acquire the remaining 34% stake in Portuaria Cabo Froward S.A from Kawasaki Kisen Kaisha Ltd. (TSE:9107), Puertos y Logistica S.A. (SNSE:PUERTO) and others for CLP 10.8 billion on November 7, 2016. The price per share is CLP 280. The Board of Directors of Grupo Empresas Navieras unanimously agreed on extraordinary meeting held for the offer.

The offer will be considered successful if it manages to achieve 2/3 ownership, that it to say, ownership over 75.5 million shares. As of December 9, 2016, the offer price increased to CLP 300 per share. The tender offer will start on December 12, 2016 and will end on January 10, 2017.