A consortium led by Fiera Axium Infrastructure Inc. has acquired a 100-per-cent ownership interest in Montreal Gateway Terminals (MGT) from Morgan Stanley Infrastructure Partners.
The consortium comprises Fiera Axium Infrastructure Canada II L.P., Desjardins Group, via its insurance subsidiaries and its Pension Plan, Manulife, Fonds de solidarité FTQ and Industrial Alliance.
MGT is the largest container terminal operator at the Port of Montreal. It operates two of the Port’s three international container terminals – Racine and Cast – and services seven global shipping lines.
In 2014, MGT handled 800,000 TEUs (20-foot equivalent unit containers), representing 58 per cent of all containers that moved through the Port of Montreal.
“This investment fits well within our core infrastructure strategy as Montreal Gateway Terminals represents an essential infrastructure asset,” said Stéphane Mailhot, President and Chief Operating Officer of Fiera Axium Infrastructure. “Our consortium comprises partners with a long-term investment horizon and vested interests in the economic development of Greater Montreal, Quebec and Canada. We look forward to partnering with the Port and other key stakeholders to promote the Port of Montreal’s status as an international trade hub.”