US-based infrastructure investment fund manager Highstar Capital is considering the sale of its marine terminal operator and stevedore Ports America, Bloomberg cited sources close to the matter.
The company is, together with investment bank RBC Capital Markets LLC, reportedly searching for a buyer for the USD 1 billion-worth terminal operator.
World Maritime News contacted Highstar Capital and Ports America for more details on the matter, however, the companies are yet to reply.
Headquartered in New Jersey, Ports America operates in more than 42 ports and 80 locations, handling 13.4 million TEUs, 2.5 million vehicles, 10.1 million tons of general cargo and 1.7 million cruise ship passengers annually.
In April, the terminal operator said that it plans to increase its West Coast presence through additional investments, services and expansion of its terminal capacity.
The latest transaction includes an expansion and 20-year lease extension of the Husky Terminal in Tacoma, Washington.
World Maritime News Staff