Independent journal on economy and transport policy
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PORTS
The Canadian Logistec buys the port terminals of its compatriot Fednav
The $105 million transaction will include Federal Marine Terminals and Fednav Direct
Montreal
March 2, 2023
Logistec Stevedoring, a Canadian group company Logistec Corporation which operates numerous port terminals in Canada and the USA, signed a binding agreement for Buy the Canadian and US port terminals of the compatriot Fednav, including the terminalista company Federal Marine Terminals (FMT) and the logistics division Fednav Direct. The value of the transaction, which will be subject to the usual adjustments to cash and working capital and expected will be completed by the end of the month, will be 105 million Dollars. In 2022 FMT recorded revenues of 89.8 million US dollars.
With the acquisition of Fednav's 11 port terminals, the of the Logistec group will increase to 90 terminals in 60 ports in the North America.
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Logistec Stevedoring, a Canadian group company Logistec Corporation which operates numerous port terminals in Canada and the USA, signed a binding agreement for Buy the Canadian and US port terminals of the compatriot Fednav, including the terminalista company Federal Marine Terminals (FMT) and the logistics division Fednav Direct. The value of the transaction, which will be subject to the usual adjustments to cash and working capital and expected will be completed by the end of the month, will be 105 million Dollars. In 2022 FMT recorded revenues of 89.8 million US dollars.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
