Bloomberg is reporting that Ports America is looking at selling up for as much as $1bn. The firm is owned by private equity company Highstar Capital. Bloomberg stated investment bank RBC Capital Markets has been tapped to find a buyer.
Highstar was bought out by Oaktree two years ago.
In January Ports America quit its terminal in Oakland. It remains the largest terminal operator and stevedore in the United States, operating in more than 42 ports and 80 locations.
Spokesmen for Ports America and Highstar declined to comment.
