Singapore’s PSA International, one of the world’s largest terminal operators, has won its first concessions on the eastern seaboard of North America. The company has finalised an agreement to acquire Halterm Container Terminal in the Port of Halifax, Canada, and Penn Terminals in Pennsylvania, US from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets. The transaction is in the process of securing regulatory approvals from the respective USA and Canadian authorities.
PSA beat out stiff competition from Canadian National Railway and CMA CGM for the Halifax terminal.
Last year PSA took a 60% stake in inland port, Ashcroft Terminal in British Columbia.
The sale comes as Macquarie shifts its investment to west coast ports. Last week it was revealed a consortium led by Macquarie Infrastructure Partners had won a $1.78bn bid to take over OOCL’s Long Beach container terminal.