Although a number of approvals are still needed before matters are finalised, the acquisition will be made through Deutsche Bank America’s Holding Corp., a RREEF affiliate. Deutsche Bank has acted as financial advisor to RREEF for the acquisition and Greenhill & Co acted as financial advisor to Maher Terminals.
The company will retain the Maher name and the acquisition will not affect the leadership of Maher Terminals. Brian Maher will continue to serve as the company’s chairman and CEO and Basil Maher will remain as president. Maher will keep its headquarters in Berkeley Heights, New Jersey.
Maher Terminals operates the world’s largest independent multi-user container terminal in the US in Port Elizabeth (NJ), within the Port of NY/NJ. The company has also received approval for and is constructing a terminal in Prince Rupert, Canada, which should be completed by autumn 2007.