Macquarie Infrastructure Partners Acquires Halterm

On January 16, 2007, Macquarie Infrastructure Partners acquired the outstanding common shares and promissory notes of Halterm Limited, the wholly owned subsidiary of Halterm Income Fund, for $172.75 million. Halterm operates a container terminal and cargo handling facility on a 72-acre site in the Port of Halifax, Nova Scotia.

Immediately after the acquisition, Halterm Income Fund redeemed all of its outstanding trust units for approximately $19.08 per unit in cash, after the retirement of existing debt and costs incurred by the fund relating to the transaction. The common shares and promissory notes of Halterm represented substantially all of the assets of the fund.

Macquarie Infrastructure Partners was represented in-house by Robert Lawsky, who was assisted by Torys LLP with a team that included Phil Symmonds, Krista Hill and John Guccione (M&A); Scott Kraag (lending); Corrado Cardarelli and Richard Johnson (tax); Sabrina Gherbaz and Graham Rawlinson (real estate); Christina Medland, Mitch Frazer and Stacey Parker-Yull (pension and employment); Dennis Mahony and Michael Fortier (environmental); Eric Boehm (technology); Carolyn Naiman (competition); and Phil Mohtadi (Investment Canada).

Macquarie was also represented by Gowling Lafleur Henderson LLP with a team that included Myron Dzulynsky, Alan James, Ian Macdonald and Rob Blackstein (corporate); Tim Wach (tax); and John Myers (financial services).

Halterm Income Fund was represented by Stewart McKelvey with a team led by Richard Jones and Andrew Burke that included Gavin Stuttard and Andrew McFarlane (M&A), Paul Festeryga and Christine Pound (tax) and Fraser MacFadyen (real estate). The special committee of the board and trustees of Halterm was represented by Suzan Frazer of McInnes Cooper.

Bayerische Hypo-und Vereinsbank AG, the lenders to Macquarie, were represented by Blake, Cassels & Graydon LLP with a team led by Simon Finch and including Matthew Lawless.