DP World teams up with Canadian pension fu[ds_preview]nd manager CDPQ to create a 3.7 bill. $ investment platform.
The new platform initially includes two Canadian container terminals in Vancouver and Prince Rupert with CDPQ acquiring a 45% stake of the combined assets for 640 mill. $. The investment platform totals US$ 3.7 billion, with DP World holding a 55% share and Caisse de dépôt et placement du Québec (CDPQ) the remaining 45%.
The platform will invest in ports and terminals globally, excluding projects within the United Arab Emirates (UAE), with a focus on investment grade countries. It will also invest up to 25% in greenfield opportunities, said one of the world‘s leading terminal operators.
»We are proud to announce the partnership with CDPQ to invest in growth opportunities
in port and terminal businesses around the world«
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World
The opportunity landscape in the port and terminal sector remains significant and this partnership offers greater flexibility to capitalise on these opportunities,« he said.
CDPQ will have unique access to highquality transactions, and the opportunity to invest in the best port infrastructure worldwide, added Michael Sabia, President and CEO of CDPQ.
Canaccord Genuity, Dubai, acted as financial advisor to DP World and BMO Capital Markets acted as financial advisor to CDPQ. CDPQ’s investment in the two Canadian terminals are subject to a number of customary regulatory approvals.
