PSA International to Take Over Halterm, Penn Terminals

Container terminalIllustration, Source: Pixabay (Pixabay License)

Singapore-based port operator PSA International has finalized an agreement to take over the Halterm Container Terminal in the Port of Halifax, Canada, and multipurpose Penn Terminals in Pennsylvania, USA.

According to the company, the terminals would be acquired from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets (MIRA).

“This transaction is in the process of securing regulatory approvals from the respective USA and Canadian authorities,” a PSA Corporate spokesperson told World Maritime News.

The company did not provide the financial details related to the transactions.

With this move, PSA International would expand its coverage in Canada, after entering the market with an investment agreement to acquire 60% of Ashcroft Terminal business, an inland port facility in Western Canada, in July 2018.

Less than two months ago, PSA International reached an agreement to purchase Poland’s largest container terminal, DCT Gdańsk, jointly with the Polish Development Fund (PFR) and the IFM Global Infrastructure Fund (GIF).

At the time, the parties said that the shares would be purchased from MIRA-managed fund Global Infrastructure Fund II, MTAA Super, AustralianSuper and Statewide Super.

World Maritime News Staff

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