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  December 7th, 2016 | Written by

$3.7 Billion Global Investment Platform for Ports and Terminals

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  • Investment platform to invest in port and terminal businesses globally.
  • DP World/CDPQ investments initially includes two container terminals in Vancouver and Prince Rupert.
  • DP World/CDPQ investments will include up to 25 percent invested in greenfield projects.

DP World is partnering with Caisse de dépôt et placement du Québec (CDPQ) to invest in ports and terminals globally (excluding the UAE) with a focus on investment grade countries.

The investment platform totals $3.7 billion, with DP World holding a 55-percent share and CDPQ the remaining 45 percent. CDPQ is one of North America’s largest pension fund managers with extensive experience in infrastructure investing.

The platform will invest mostly in existing assets, but with up to 25 percent 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 vehicle 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-percent stake of the combined assets for $640 million.

“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,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World. “The partial monetization of our Canadian assets further strengthens our balance sheet.

“The opportunity landscape in the port and terminal sector remains significant,” Bin Sulayem added, “and this partnership offers us greater flexibility to capitalize on these opportunities while maintaining a strong balance sheet and retaining control. By combining our in-depth knowledge of container handling and CDPQ’s expertise in infrastructure investing and long-term horizon, we can continue to develop the port and terminal sector globally.”

“Through this new investment platform with DP World, CDPQ will have unique access to high-quality transactions, and the opportunity to invest in the best port infrastructure worldwide,” said Michael Sabia, President and CEO, CDPQ. “We look forward to leveraging our in-house infrastructure expertise and DP World’s strong track record in the port sector to deliver attractive long-term returns for our clients.”

CDPQ’s investment in the two Canadian terminals are subject to a number of regulatory approvals.