Pension fund buys stakes in two Canadian container terminals from DP World

Pension fund buys stakes in two Canadian container terminals from DP World

Canadian pension fund manager CDPQ has bought a 45% stake in two Canadian container terminals from the Dubai-based port and terminal operator DP World.

CDPQ – the initialization of the French-language name Caisse de dépôt et placement du Québec – paid $655m for the stakes in terminals at Vancouver and Prince Rupert, both in British Columbia.

Last month DP World and CDPQ partnered to set up a $3.7bn investment platform to put money into port and terminal businesses with growth potential. DP World has a 55% share of the investment platform while CDPQ has the remaining 45%.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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