Deals News: DP World and Canada Fund Plan $4.5 Billion of Port Investments - Bloomberg:
DP World and Caisse de Depot et Placement du Quebec have agreed to invest an additional $4.5 billion in their global portfolio of port terminals.
The Dubai-based ports operator and Canadian pension fund manager announced the injection of the funds into their existing venture in a statement Thursday, confirming an earlier Bloomberg News report.
DP World and the Caisse agreed in 2016 to set up a platform for investing in ports around the world. An initial investment target of $3.7 billion has been hit, they said, with the portfolio holding ports across North America, Latin America and Asia Pacific.
The fresh capital will be used to develop existing locations and expand into new geographies, including Europe, as well as sectors such as logistics services, according to the statement. It will take the total amount committed to the venture, which is 55% owned by DP World, to $8.2 billion since inception.
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