The Globe and Mail reports in its Saturday, March 7, edition that after eight years as owners,
Morgan Stanley's infrastructure
investment unit is selling the Port
of Montreal's biggest container
terminal to a consortium led by
Fiera Axium Infrastructure.
The Globe's Nicolas Van Praet writes that the terms of the deal were not disclosed.
Fiera Axium, an independent
portfolio management firm
focused on infrastructure investments, joined banking co-operative
Desjardins Group, Manulife
Financial, labour fund
Fonds de solidarite FTQ and Industrial
Alliance Insurance and Financial Services to buy the facility,
known as Montreal Gateway
Terminals.
MGT is
the largest container terminal operator
at the Port of Montreal,
running two of the port's three
international terminals and servicing
seven global shipping lines.
Fiera Axium is partly owned by
Montreal investment firm Fiera
Capital. Its recent investments
include wind farms, a hydroelectric
project and the
Sorel-Tracy detention centre.
Bloomberg News reported on
Feb. 24 that Morgan Stanley's infrastructure
arm was close to selling
the Montreal facility to a
group led by Fiera Axium in a
transaction valued at almost
$650-million.
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