Morgan Stanley in Montreal Port Sale
Morgan Stanley’s infrastructure unit is to sell its stake in the Port of Montreal’s biggest container terminal which is operated by the largest container terminal operator at the port – Montreal Gateway Terminals – to investment firm Fiera Axium Infrastructure in a bid to promote the port as an international trade hub.
The Globe and Mail reported Stéphane Mailhot, President of Fiera Axium Infrastructure, as saying: “Montreal Gateway Terminals represents an essential infrastructure asset. We look forward to partnering with the port and other key stakeholders to promote the Port of Montreal’s status as an international trade hub.”
Michael Fratianni, CEO of Montreal Gateway Terminal, said: “We were able to find a committed group of investors with a good collaborative approach and a strong regional presence. In terms of our long-term aims, we intend to promote the port and continue to develop business in order to bring in more cargo and promote regional development.
“[We will] continue to work collectively with the port and other key stakeholders to enhance the Port of Montreal’s international status and market its strong terminal operations globally, supporting geographic and customer diversification.”
Fiera Axium Infrastructure are not the only investment firm to participate in port-related ventures, as Goldman Sachs recently announced its move to sell its 30% stake in port operator Petlim Limancilik A.S.
(Source: Port Montreal)