Dubai-based terminal operator DP World has announced that it will purchase Maher Terminals’ Fairview Container Terminal in Prince Rupert, Canada.
The total payment is C$580m (US$457m) on a cash-free, debt-free basis and the deal is subject to Canadian regulatory approvals. It is expected to be finalised in the second half of 2015.
The concession period runs to 2034 with an extension to 2056, once phase two of its expansion is completed. Fairview has a current capacity of 850,000 teu.