Ports America and Highstar Capital, a private equity firm that owns Ports America, is looking to find a buyer for the sale of Ports America, which could fetch around US$1 billion, according to Bloomberg.
Ports America and Highstar spokesmen declined to comment.
This follows news that Ports America was looking to develop its business growth strategy in order to boost its presence. This was to be achieved by increasing terminal capacity and via additional investments.
Ports America also previously announced that it was planning to increase investments in a number of US West Coast Ports.
The terminal operator announced in January, 2016 that it was to sell its 50-year concession at the Port of Oakland in order to focus on future investments in other terminals.
In line with its expansion plan was also the announcement that the operator was to take over intermodal responsibilities from CSX Intermodal Terminals at the Port of Baltimore, in a bid to prepare for the opening of the expanded Panama Canal.
Fact File: Ports America has operations in over 80 locations in the US with its focus on innovation and safety being