Bids submitted for takeover of Californian port concession
Bids have reportedly been submitted for the sale of Orient Overseas Container Line (OOCL)'s 40-year concession to operate Long Beach Container Terminal by Blackstone Group, KKR, EQT Partners and Macquarie Group.
OOCL was awarded the concession in January 2012. The sale is due to the takeover of OOCL's parent company, Orient Overseas International Limited (OOIL), by China Ocean Shipping Company (COSCO). U.S. regulators ordered the divestment of the terminal to approve the merger.
The container terminal is located at the Port of Long Beach in southern California, a key gateway for trans-Pacific trade. It is the second-busiest container seaport in the United States, handling trade valued at more than US$194 billion annually.
Country updates
-
-
January 09, 2019
Oaktree Capital Management invests in Kansas-based transportation company
Oaktree Capital Management, L.P. has committed US$450 million of non-controlling equity capital to Watco Companies, LLC, a Pittsburg, Kansas-based transportation company providing transportation,...
Read more -
January 08, 2019
High interest in mitigation bank P3 in Pennsylvania
Following a well-attended industry forum and site visit last month, the Pennsylvania Department of Transportation (PennDOT) has announced another site visit for the Chalfont Mitigation Banking Project...
Read more -
January 04, 2019
Munich Airport International to operate and maintain new terminal at New Jersey airport
Munich Airport International GmbH (MAI) will shortly take over operations, maintenance and concessions functions of Terminal A of Newark Liberty International Airport, the primary airport serving the...
Read more -
December 26, 2018
Colorado authority shortlisted three teams for Jefferson Parkway Project
The Jefferson Parkway Public Highway Authority (JPPHA) Board of Directors selected three teams from among five submissions to move to the request for proposal phase for the construction of the Jeffers...
Read more -
December 21, 2018
US university in negotiations with developer for biomedical research centre expansion P3
Michigan State University (MSU) has announced a Public-Private Partnership (P3) that will expand the medical research capabilities at the site of the Grand Rapids Research Center (GRRC). The Universi...
Read more
