A consortium led by Fiera Axium Infrastructure is buying Montreal Gateway Terminals from Morgan Stanley (NYSE: MS).
Montreal Gateway Terminals is the largest operator at the Port of Montreal, and the second-largest container facility in Canada, according to Morgan Stanley.
Montreal Gateway Terminals are being sold by a subsidiary of New York-based Morgan Stanley Infrastructure Partners LP, a $4 billion global infrastructure fund. Terms of the transaction were not disclosed. The group bought an 80 percent interest in the business in February 2007, and bought the remaining stake in December 2013.
Fiera Axium is a Canadian portfolio management firm headquartered in Toronto. The group has funds that focus on energy, transportation and social infrastructure.
Other recent logistics transactions include Arc Logistics Partners LP (NYSE: ARCX) and GE Energy Financial Services' deal for Joilet Bulk Barge & Rail LLC in February, and Wabtec Corp.'s (NYSE: WAB) February acquisition of Railroad Controls LP.