A Quebec-based consortium led by Fiera Axium Infrastructure has acquired a 100% ownership interest in Montreal Gateway Terminals from Morgan Stanley Infrastructure Partners.
The Canada-based investment firm did not reveal any financial details of the deal, but it is speculated that Morgan Stanley will get USD 520 million for the cargo container facility .
Montreal Gateway Terminals operates two of the Port of Montreal’s three international terminals (Racine and Cast) and services seven global shipping lines.
In 2014, Montreal Gateway Terminals handled 800,000 Twenty-Foot Equivalent Units (TEU), representing 58% of all containers handled at the Port of Montreal.
“This investment fits well within our core infrastructure strategy as Montreal Gateway Terminals represents an essential infrastructure asset,” said Stéphane Mailhot, President and Chief Operating Officer of Fiera Axium. “Our consortium is comprised of partners with a long-term investment horizon and vested interests in the economic development of Greater Montreal, Quebec and Canada. We look forward to partnering with the Port and other key stakeholders to promote the Port of Montreal’s status as an international trade hub.”
Besides Fiera Axium, the consortium consists of Desjardins Group, via its insurance subsidiaries and its Pension Plan, Manulife, Fonds de solidarité FTQ and Industrial Alliance.
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