Complex Made Simple

DP World, Quebec’s Caisse to create $3.7bn investment vehicle

* Partnership will invest in ports and terminals, focusing on investment-grade countries

* Partnership will initially include 2 of DP World’s Canadian container terminals in British Columbia

* Caisse de depot et placement du Quebec is Canada’s second-biggest public pension fund

 

Dubai-based ports operator DP World Ltd said it had partnered with Caisse de depot et placement du Quebec, Canada’s second-biggest public pension fund, to create a C$5 billion ($3.76 billion) investment vehicle.

 

(DP World’s nine-month container volumes rise 1 per cent)

 

The partnership will invest in ports and terminals, focusing on investment-grade countries, the companies said on Friday.

The stakes

DP World will have a 55 per cent stake in the partnership, while Caisse will hold the rest, the companies said.

 

(DP World wins 30-year concession for port project in Somaliland)

 

The partnership will initially include two of DP World’s Canadian container terminals in British Columbia, of which Caisse will buy a 45 per cent stake for C$865 million.

Cannacord Genuity, Dubai, served as financial adviser to DP World and BMO Capital Markets as financial adviser to CDPQ.