I Squared Capital has received approval from Barranquilla Regional Port Society to acquire a 77% stake in the company. Once complete, I Squared will be the majority stakeholder in Port of Barranquilla.

The transaction is valued at about US$220 million. The 77% stake was previously held by Latin American investment fund, Southern Cross Group: Ocensa, and the Olympic Group.

Barranquilla Regional Port Society provides operation and maintenance services for Port of Barranquilla located in northern Colombia. It is a holding company of 5 logistics companies with more than 85 years of experience.