A Singapore-based port operator has completed its purchase of the Halterm Container Terminal, located in the Port of Halifax.
PSA International Pte Ltd., announced on Wednesday evening that it concluded the purchase for the terminal from Macquarie Infrastructure Partners after formal approval by regulatory authorities.
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Macquarie had announced in May that it had reached a deal to sell the Halterm terminal, the largest container terminal in Eastern Canada
PSA reportedly beat out several bids for Halterm, including a joint bid by the Canadian National Railway Co., and an undisclosed partner.
The Singapore-based port operator will acquire Penn Terminals in Philadelphia as part of the deal.
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With files from The Canadian Press