Deutsche Bank to sell Maher Terminals at Port ElizabethStaff writer ▼ | April 15, 2016
Deutsche Bank has reached an agreement with Macquarie Infrastructure Partners III, a fund managed by Macquarie Infrastructure and Real Assets, to sell Maher Terminals USA, a 454-acre multi-user container terminal in Port Elizabeth, New Jersey.
Selling MIP III has agreed to acquire 100% of Maher Terminals USA
Maher Terminals in New Jersey currently moves more than 2 million twenty-foot-equivalent containers per year and provides a vital transport link between land and water for the global marketplace. Since acquiring the asset in 2007, Deutsche Bank has managed this vital transport link through the financial crisis and recovery.
This is a legacy asset held within the Bank’s Non-Core Operations Unit (NCOU). In 2015, Deutsche Bank sold Maher Terminals’ Canadian operations Fairview Container Terminal in Prince Rupert, British Columbia, to DP World.
“This sale marks another important step in Deutsche Bank’s commitment to the reduction of legacy assets,” said Pius Sprenger, Deutsche Bank’s Head of the NCOU. ■