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Genesee & Wyoming $GWR Australia to Acquire Glencore Rail for $874M

Genesee & Wyoming $GWR Australia to Acquire Glencore Rail for $874M

Canada Pension Plan Investment Board (CPPIB) agreed to acquire a 40% equity interest in Glencore’s (LSE: GLEN) unit Glencore Agri, for $2.5 billion, as previously reported by ExitHub. Glencore was founded in 1974 and is headquartered in Baar, Switzerland. The company was formerly known as Glencore Xstrata plc and changed its name to Glencore plc in 2014. The GRail deal is expected to close on December 1, 2016, subject to Australian Foreign Investment Review Board approval. Bank of America Merrill Lynch served as financial advisor to G&W. Allens served as legal advisor on the GRail acquisition and formation of the GWA partnership, and King & Wood Mallesons served as legal advisor to G&W on the Australian debt financing. Macquarie Capital served as financial advisor to MIRA. and Norton Rose Fulbright served as legal advisor. Photo: Ivan Glasenberg, CEO of Glencore.]]>

@Oaktree's Highstar Capital Seeks $1B Exit for Ports America, Hires @RBC Capital

@Oaktree's Highstar Capital Seeks $1B Exit for Ports America, Hires @RBC Capital

Bloomberg reported. On February 1, 2016, Outer Harbor Terminal LLC, formerly known as Ports America Outer Harbor, a joint venture between Ports America and Mediterranean Shipping Co.’s Terminal Investment Ltd., which operates one of the largest container terminals in the Port of Oakland, California, filed for Chapter 11 bankruptcy, two weeks after announcing its withdrawal from the port. The Port of Oakland oversees the Oakland seaport, Oakland International Airport, and 20 miles of waterfront. Iselin, N.J.-based Ports America handles all types of cargo, including container, bulk, breakbulk, automotive, project, military and cruise, typically handling 13.4 million TEU, 2.5 million vehicles, 10.1 million tons of general cargo and 1.7 million cruise ship passengers annually. Highstar’s investment in Ports America since 2007 includes three acquisitions: Ports America Inc., MTC Holdings, Inc. and Ports America Cheseapeake LLC. ports_americaPorts America Inc. is the largest independent maritime terminal operator on the US Atlantic and Gulf Coasts. Ports America handles containerized cargo, roll-on/roll-off cargo, cruise line passengers and general cargo at 23 locations. MTC Holdings provides independent marine terminal operations to container shipping companies, roll-on/roll-off shippers, and general cargo and stevedoring services at 32 locations at key strategic ports principally on the west coast of the United States. Ports America Chesapeake LLC was awarded a 50-year concession to upgrade and operate the Seagirt Marine Terminal in the Port of Baltimore, Maryland. Since 2000, Highstar’s team has invested approximately $7.8 billion on behalf of its managed funds and co-investors in a number of significant, high value-added, diversified infrastructure investments in fields including: power generation, water and waste water, natural gas transmission and storage, waste management, waste-to-energy, transportation logistics, intermodal transport, and port concessions and operations. Highstar was spun off insurance giant AIG, after the global financial crisis of 2009. In June 2014, Highstar was acquired by Oaktree Capital Management LP, a leading global alternative investment management firm with expertise in credit strategies and distressed debt. Oaktree was founded in 1995 and is headquartered in Los Angeles, with offices in London, New York, Hong Kong, Stamford, Houston, Tokyo, Luxembourg, Paris, Frankfurt, Singapore, Seoul, Beijing, Amsterdam, Dublin, Dubai, Shanghai and Sydney. The firm has over 900 employees, and $97 billion in assets under management as of March 2016.]]>