US terminal operator, Ports America Group (PAG), has been sold to Canada Pension Plan Investment Board (CPPIB) by Oaktree Capital Management.
US terminal operator, Ports America Group (PAG), has been sold to Canada Pension Plan Investment Board (CPPIB) by Oaktree Capital Management. PAG operates in 70 locations in 33 ports, handling 13.5 million TEU, 10 million tons of general cargo and 2.5 million vehicles, annually. The transaction is expected to close by the end of 2021 and local reports have indicated a ticket price of over US$4 billion.