Macquarie Group Ltd. says it has reached a deal to sell Halterm terminal at the Port of Halifax, the largest container terminal in Eastern Canada, to PSA International Pte Ltd.

The Singapore-based port operator will also acquire Penn Terminals in Philadelphia from the Australian firm. Both terminals are currently owned by Macquarie Infrastructure Partners, a fund managed by a Macquarie Group subsidiary.

A Macquarie spokesperson says it is in the process of securing regulatory approvals from Canadian and U.S. authorities.

PSA beat out several bids for Halterm, including a joint bid by Canadian National Railway Co. and a partner.

Source & Image: The Canadian Press

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