Canada’s CPP Investments to acquire full ownership of Ports America

Canada Pension Plan Investment Board (CPP Investments) has entered into a definitive agreement to become the 100 per cent owner of marine terminal operator Ports America through the acquisition of an interest from funds managed by Oaktree Capital Management.

The transaction is subject to satisfaction of certain closing conditions and regulatory requirements. The parties expect the transaction to close by the fourth quarter of 2021.

The acquisition also include’s Port America’s 70 locations in 33 ports on each of the United States’ three coasts.