DP World has acquired a 19% stake in Sociedad Portuaria Regional de Buenaventura (SPRBUN) that operates the largest terminal on Colombia’s Pacific coast for $150m. However the Dubai-headquartered terminal operator intends to buy up to 23% and negotiations remain open until 30 July.

The port of Buenaventura comprises four terminals that moved over 14m tonnes of cargo in 2012. One of the other terminals, Container Terminal of Buenaventura (TCBuen), which started operations over two years ago, is run by Spain’s operators Barcelona Container Terminal. The main partner of Aguadulce terminal, under construction next to Buenaventura, is Philippines port operator ICTSI.

From SeaTrade Global