On March 9, 2007, the TUI Group completed the sale of an 80 per cent stake in its Canadian container terminal activities of the Montreal Gateway Terminals reported to be $460 million, which had been acquired in TUI's takeover of CP Ships. The buyer is Morgan Stanley's infrastructure investment group, part of the firm's investment management division. In addition to the retained 20 per cent stake, TUI's subsidiary, Hapag-Lloyd, remains a major client of the terminal through a long-term contract.
Morgan Stanley was assisted in Canada by a team from Osler, Hoskin & Harcourt LLP led by Ward Sellers and including John Leddy, Emmanuelle Lamarre-Cliche and Eric Blondeau (corporate), Jason Hanson and Sven Poysa (labour and employment), Elaine Marchand and Didier Fréchette (tax), Radha Curpen, André de Maurivez and Anik Lalonde-Roussy (environmental), François Parent and Julien Ranger-Musiol (pension and benefits), Neil Bindman (real estate), Etienne Massicotte (financial services) and Kevin Ackhurst (Investment Canada/competition) and in Nova Scotia by Hayley Clarke and Deborah Patterson (corporate) of McInnes Cooper. Morgan Stanley was represented in the United States by Davis Polk & Wardwell with a team that included Waide Warner (finance), John Butler and Julie Chang (corporate and M&A) and Bill Wiegel (tax).
TUI, Hapag-Lloyd and CP Ships were represented by an in-house team led by Marcus Beger and including Thomas Mansfeld, Beata Flach and Karen Walter. The in-house team were assisted in Canada by Blake, Cassels & Graydon LLP with a multi-office team that included Pamela Hughes, David Kruse, Michael Bantey, Brian Westlake, Clémentine Sallée and Andrew Gordon (corporate and M&A), Ron Richler (tax), Jeremy Forgie and Valerie Arthur (pensions & employee benefits), Navin Joneja (competition), Natalie Bussiére (employment), Jonathan Kahn (environmental) and Sharon Wong (litigation). CP Ships was represented in New Brunswick by Paul Smith (corporate) of Stewart McKelvey.