HALIFAX — A Singapore-based port operator has announced a deal to buy the largest container terminal in Eastern Canada.
PSA International Pte Ltd. says it has finalized an agreement to acquire the Halterm terminal at the Port of Halifax from Australia’s Macquarie Infrastructure Partners.
The company will also acquire Penn Terminals in Philadelphia from the Australian fund, which is managed by Macquarie Infrastructure and Real Assets.
A PSA spokesperson says it is in the process of securing regulatory approvals from Canadian and U.S. authorities.
The company declined to comment on the price tag, closing date or its plans for the terminal.
PSA beat out several bids for Halterm, including a joint bid by Canadian National Railway Co. and a partner.
Companies in this story: (TSX:CNR)
The Canadian Press