A subsidiary of USD54 billion global infrastructure fund Morgan Stanley Infrastructure Partners (MSIP) is to sell Montreal Gateway Terminals to a consortium led by Fiera Axium Infrastructure.
The terms of the transaction have not been disclosed.
The MSIP subsidiary, MGT Holdings S.a.r.l (MGT Holdings), acquired an 80 per cent interest in Montreal Gateway Terminals in February 2007 in an exclusively negotiated transaction and secured 100 percent ownership in December 2013. Montreal Gateway Terminals is the largest operator at the Port of Montreal and the second-largest container facility in Canada. The Port of Montreal is the third-largest container port servicing the northeast coast of North America, one of the busiest inland ports in the world and a strategic gateway to the Canadian and Midwestern US markets.
“We are proud of our accomplishments over the past seven years at Montreal Gateway Terminals,” says John Watt, Head of Asset Management for MSI. “The team worked closely with management on many initiatives, and Montreal Gateway Terminals is today a very efficient company providing customer service at the highest quality level.”
Markus Hottenrott, Chief Investment Officer of MSI, says: “This investment is a great example of our sourcing capabilities and approach to value creation – a proprietary and exclusively negotiated acquisition of an asset in Canada, a German seller and significant operational improvements during our ownership.”
