Consortium Led by Fiera Axium Infrastructure Acquires Montreal Gateway Terminals from Morgan Stanley Infrastructure Partners
MONTREAL, March 6, 2015 /PRNewswire/ - A consortium led by Fiera Axium Infrastructure Inc. and composed of Fiera Axium Infrastructure Canada II L.P., Desjardins Group, via its insurance subsidiaries and its Pension Plan, Manulife, Fonds de solidarité FTQ and Industrial Alliance is pleased to announce it has acquired a 100% ownership interest in Montreal Gateway Terminals from Morgan Stanley Infrastructure Partners.
Montreal Gateway Terminals is the largest container terminal operator at the Port of Montreal, operating two of the Port's three international terminals (Racine and Cast) and servicing seven global shipping lines. In 2014, Montreal Gateway Terminals handled 800,000 Twenty-Foot Equivalent Units (TEU), representing 58 percent of all containers handled at the Port of Montreal.
The Port of Montreal is the leading container port in Eastern Canada and a major international port linked to over 140 countries around the world. It is strategically located to support trade between Europe, Canada, and large U.S. population centers. It benefits from its proximity to major European ports, as well as an extensive railway and highway network connecting Montreal to key North American markets.
"This investment fits well within our core infrastructure strategy as Montreal Gateway Terminals represents an essential infrastructure asset" said Stéphane Mailhot, President and Chief Operating Officer of Fiera Axium Infrastructure Inc. "Our consortium is comprised of partners with a long-term investment horizon and vested interests in the economic development of Greater Montreal, Quebec and Canada. We look forward to partnering with the Port and other key stakeholders to promote the Port of Montreal's status as an international trade hub" added Mr. Mailhot.
BMO Capital Markets acted as exclusive financial advisor and Norton Rose Fulbright acted as legal advisor to Fiera Axium Infrastructure Inc. and the consortium on the transaction.
BMO Capital Markets acted as Sole Bookrunner and Underwriter for the debt financing raised in conjunction with the transaction. The lending group also includes: Canadian Imperial Bank of Commerce, MUFG, Royal Bank of Canada, la Caisse de dépôt et placement du Québec, and The Bank of Nova Scotia.
About Fiera Axium Infrastructure Inc.: Fiera Axium is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Fiera Axium manages dedicated infrastructure funds having in excess of $1.2 billion in assets under management. Focus is placed on assets that are supported by robust market demand and under long-term contract with creditworthy counterparties. The firm combines the capabilities of a group of specialists with decades of combined experience acquiring, developing, financing, operating and managing infrastructure assets. For further information, please visit www.fieraaxium.com.
About Desjardins Group: Desjardins Group is the leading cooperative financial group in Canada and the fifth largest cooperative financial group in the world with assets of more than $229 billion. It has been rated one of Canada's top 100 employers by Mediacorp Canada. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. The group has one of the highest capital ratios and credit ratings in the industry. In 2014, Desjardins was named the fourth safest bank in North America by Global Finance magazine and the second strongest bank in the world by Bloomberg News.
About Manulife: Manulife is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. We operate as John Hancock in the U.S. and as Manulife in other parts of the world. We provide strong, reliable, trustworthy and forward-thinking solutions for our customers' significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Assets under management by Manulife and its subsidiaries were approximately C$691 billion (US$596 billion) as at December 31, 2014. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com.
About Fonds de solidarité FTQ: The Fonds de solidarité FTQ helps drive our economy. With net assets of $10.5 billion as of November 30, 2014, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec's development. The Fonds is a partner, either directly or through its network members, in more than 2,450 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 172,000 jobs. For more information, visit www.FondsFTQ.com.
About Industrial Alliance: Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. operates throughout Canada as well as in the United States. The Company offers life and health insurance, mutual and segregated funds, savings and retirement plans, securities, auto and home insurance, mortgage and car loans and other financial products and services for both individuals and groups. Ranked among the top four life and health insurance companies in Canada, Industrial Alliance is one of Canada's largest public companies and trades on the Toronto Stock Exchange under the ticker symbol IAG.
SOURCE Fiera Axium Infrastructure
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