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DP World purchases Fraser Surrey Docks


2019-05-10


Dubai-based DP World PLC has announced the acquisition of Fraser Surrey Docks terminal at Canada's Port of Vancouver from Macquarie Infrastructure Partners (MIP). MIP is a fund managed by the Macquarie Infrastructure and Real Assets (MIRA) division of Macquarie Group.  Earlier this week, Macquarie sold its ownership stake in Halterm Container Terminal to PSA International.

The acquisition will be effected through DP World's Canadian subsidiary, DP World Canada Investment Inc. which is owned 45% by Caisse de dépot et placement du Québec (CDPQ) and is subject to customary completion conditions. DP World expects the transaction to be earnings accretive from the first full year of consolidation and to close in the first half of 2019.

Fraser Surrey Docks is a large, multi-purpose marine terminal located in the greater Vancouver area of British Columbia, Canada. It operates over 1,200 meters of berth and 189 acres of yard and is one of Vancouver's major steel import terminals. It also handles over 1 million tons of grain and serves several container lines, handling approximately 250,000 TEU in 2018.

The acquisition of Fraser Surrey Docks complements DP World's footprint in Canada and provides an attractive platform to better serve its customers' break-bulk and dry bulk requirements. DP World's existing facilities at Centerm terminal in Vancouver and Fairview container terminal at Prince Rupert have enjoyed strong growth in recent years. (photo VFPA)

 
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