News

Maher Terminals acquisition concluded by RREEF

Today RREEF Infrastructure completed the acquisition of Maher Terminals, a privately-held operator of port terminal facilities in Port Elizabeth, New Jersey, and Port of Prince Rupert, British Columbia.

Under the agreement, RREEF Infrastructure will acquire Maher Terminals, a family-owned and operated company and will now hold the remaining 23 years left on the existing lease. The Royal Bank of Canada acted as mandated lead arranger and agent for the acquisition.

Maher Terminals is the largest marine terminal operator at the Port of New York/New Jersey. The Port Elizabeth facility is a 1,254 acre site and is part of the Port Newark-Elizabeth Marine Terminal where RREEF Infrastructure has committed to invest US $114 million in capital expenditure into the facility through out the lease period. The Port of Prince Rupert is the deepest ice-free natural harbour in North America.

Operis provided financial model due diligence services for the transaction, including an accelerated audit.

4 July 2007