CDPQ Acquires Stake in DP World’s Canadian Terminals

2017-01-25

Dubai-based port and terminal operator DP World has closed the transaction to monetize 45% of its Canadian container terminals for CAD 869 million (USD 655 million).

The stake in two terminals, Vancouver and Prince Rupert, was acquired by North America’s pension fund manager Caisse de dépôt et placement du Québec (CDPQ).

In early-December 2016, DP World and CDPQjoined forces to create an investment vehicle to invest in ports and terminals globally, excluding the United Arab Emirates (UAE).

The investment platform, worth USD 3.7 billion, with DP World having a 55% share and CDPQ the remaining 45%, will invest in the assets across their lifecycle, with a focus on investment grade countries.

Last month, DP World said the investment would cover existing assets, with up to 25% invested in greenfield opportunities.

Source from : World Maritime News

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