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Indiaexportnews.com

Would-be buyers mull OOIL Long Beach container terminal purchase

  17.12.2018    

Cosco Shipping Holdings' sale of a container terminal in Long Beach has drawn interest from potential buyers including Blackstone Group LP and KKR & Co, reports Bloomberg.
EQT Partners and an arm of Macquarie Group have been studying a deal, sources say. The facility could be valued at US$1 billion or more, depending on the structure of a deal.
Cosco agreed to sell it to obtain US regulators' approval for its acquisition of rival container-shipping line Orient Overseas International Ltd (OOIL).
Deliberations are at an early stage, and there's no certainty they will result in a transaction, sources said. Representatives for Blackstone, EQT, KKR and Macquarie declined to comment.
Infrastructure investors, including pension funds, have targeted port assets partly due to the steady returns they can provide. In June, British Columbia Investment Management Corp and IFM Investors agreed to buy stakes in GCT Global Container Terminals Inc - an operator of facilities in New York, New Jersey, Vancouver and British Columbia - from the Ontario Teachers' Pension Plan, which remains an investor.



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