Deutsche Bank has sold Maher Terminals USA, LLC, the 454-acre multi-user container terminal in Port Elizabeth, New Jersey.
An affiliate of the RREEF fund, a Deutsche Bank entity investing in infrastructure assets, has confirmed that it will be acquiring Maher Terminals - active in New York and gaining a foothold in British Columbia. Prices in this private deal were not disclosed, but the frenzy created by funds chasing a desirable asset class has driven prices to levels between 15 x and 20 x the levels of annual cash flows.
Deutsche Bank group company RREEF has been granted permission to acquire Maher Terminals by the Port Authority of New York-New Jersey.
According to US District Court documents, Maher Terminals has lost its bid to cut the fees it must pay the port authority of New York and New Jersey (PANYNJ).
Konecranes is to supply eight more straddle carriers to the USA’s Maher Terminals LLC, which when delivered, will take Maher’s Konecranes fleet to 27.
Dutch company Certus Port Automation has been selected by Maher Terminals, Newark US, for the replacement and upgrade of existing truck gate automation systems.
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