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Dubai port operator DP World has closed the deal acquiring Canadian multi-purpose marine terminal Fraser Surrey Docks (FSD).
The UAE firm acquired the terminal from Macquarie Infrastructure Partners (MIP), a fund managed by the Macquarie Infrastructure and Real Assets (MIRA) division of Macquarie Group.
“DP World is pleased to advise that it has closed the transaction to acquire Fraser Surrey Docks (FSD),” it said in a statement to Nasdaq Dubai on Sunday.
The transaction was effective through DP World’s Canadian subsidiary, DP World Canada Investment Inc. which is owned 45 percent by Caisse de dépot et placement du Québec (CDPQ), it announced in an earlier statement in May last year.
FSD is a large marine terminal and one of Vancouver’s major steel import terminals. It operates over 1,200 meters of berth and 189 acres of yard. It also handled over 1 million tons of grain and around 250,000 TEU in 2018.
(Writing by Nada Al Rifai, editing by Seban Scaria)
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