DP World pairs up with global investment partner
DP World has formed an investment platform in partnership with one of North America’s largest pension fund managers, through which it will invest in global ports and terminals with a focus on investment grade countries.
The partnership with Caisse de dépôt et placement du Québec (CDPQ) will invest mostly in existing assets, but with up to 25% invested in greenfield opportunities. Through this platform, DP World will share new investment opportunities and CDPQ will have the option of co-investing alongside DP World.
The investment platform totals US$ 3.7 billion, with DP World holding a 55% share and CDPQ the remaining 45%.
It will be seeded with two of DP World’s Canadian container terminals, located on the Pacific Coast in Vancouver and Prince Rupert, with CDPQ acquiring a 45% stake of the combined assets for US$ 640 million.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “As a global trade enabler, DP World is proud to announce the partnership with CDPQ to invest in growth opportunities in port and terminal businesses around the world. “
“In CDPQ we have found a partner with shared vision who is willing to participate in the risk and reward of investing throughout the life cycle of trade-enabling assets across the globe. The partial monetisation of our Canadian assets further strengthens our balance sheet.”
LATEST PRESS RELEASES
Exis Technologies, with the support of leading shipping and freight insurers, TT Club and UK P&I Clu... Read more
The exhibition series ‘Intermodal Africa’ organized by Transport Events is always a good possibility... Read more
The German based Headquarters of ShibataFenderTeam recently completed an order for the Port of Esbje... Read more
Start-up for ocean route planning enters ESA’s Business Incubation Centre (BIC) Read more
AMRO, a specialist marine equipment and services provider, is proud to announce that they will now c... Read more