Cargo Business Techwire

Friday, March 13, 2015

Morgan Stanley sells Montreal Gateway Terminals

Morgan Stanley announced that a subsidiary of Morgan Stanley Infrastructure Partners, a $4 billion global infrastructure fund, has made a deal to sell Montreal Gateway Terminals to a consortium led by Fiera Axium Infrastructure.

The details of the transaction were not disclosed.

The MSIP subsidiary, MGT Holdings, acquired an 80 percent interest in Montreal Gateway Terminals in February 2007 and secured 100 percent ownership in December 2013.

Montreal Gateway Terminals is the largest operator

at the Port of Montreal and the second-largest container facility in Canada. The Port of Montreal is the third-largest container port servicing the northeast coast of North America, primarily catering to the Canadian and Midwestern U.S. markets.

"We are proud of our accomplishments over the past seven years at Montreal Gateway Terminals," said John Watt, head of asset management for MSI. "The team worked closely with management on many initiatives, and Montreal Gateway Terminals is today a very efficient company providing customer service at the highest quality level."