Macquarie: strong footprint in Long Beach
The Australian investment company Macquarie has bought the Long Beach container terminal, which was completed and opened to the public in 1986. It currently comprises 425,000 sqm and eight structures.
Macquarie has agreed to pay USD 1.78 billion to buy the terminal from Orient Overseas (International) Limited (OOIL), who was obliged to sell the development on being taken-over by Cosco.
OOIL has agreed to a commitment to provide “a container stevedoring and terminal services agreement” for the terminal, essentially providing operational management for the facility. Four companies have bid for the terminal: besides Macquarie these were EQT Infrastructure, Seaspan and Yildirim. The facility is one of six container terminals at the port of Long Beach. (kd)