Montreal Gateway Terminals up for sale

Morgan Stanley Infrastructure Partners has agreed to sell Montreal Gateway Terminals (MGT), its container facility in the Port of Montreal which it acquired in 2007, to a consortium led by Fiera Axium Infrastructure Inc. an infrastructure investor based in Montreal.

The deal, which could achieve more than US$600m, is expected to be announced later this month (January), according to reports in the Wall Street Journal, which first revealed the potential sale in May last year.

At present the status of the sale is unknown, although it is understood that Fiera Axium and its partners are paying a multiple of about 16 to 17 times MGT’s earnings before interest, taxes, depreciation and amortisation for the facility.