On March 6, 2015, Morgan Stanley Infrastructure Partners, LP, a subsidiary of Morgan Stanley Infrastructure, announced that it had sold Montreal Gateway Terminals to a consortium led by Fiera Axium Infrastructure and comprised of Fiera Axium Infrastructure Canada II L.P., Desjardins Group, via its insurance subsidiaries and its Pension Plan, Manulife, Fonds de solidarité FTQ and Industrial Alliance.
Montreal Gateway Terminals is the largest container terminal operator at the Port of Montreal, operating two of the Port’s three international terminals (Racine and Cast) and servicing seven global shipping lines. Strategically situated at the gateway to the North American markets, Montreal Gateway Terminals are in operation year-around and serviced by both Canadian Pacific and Canadian National railways which have direct links to major American railroads. This strategic location is also connected to the network of highways that lead directly to markets in Québec, Ontario, Western Canada as well as the United States.
The terms of the transaction were not disclosed.
Morgan Stanley Infrastructure Partners, LP and Morgan Stanley Infrastructure were represented by an in-house counsel team led by Nitin Khakee. Torys LLP provided external support with a team led by Krista Hill that included Stephanie Brady, Sophie Courtois and Min Kim (corporate/M&A), Corrado Cardarelli and Andrew Wong (tax), Nina Mansoori (debt financing), Don Roger (real estate), Mitch Frazer and Tom Stevenson (pensions and employment), Tyson Dyck (environmental) and Dany Assaf (competition).
The consortium led by Fiera Axium Infrastructure was represented by Norton Rose Fullbright Canada LLP with a team led by Robert Borduas that included Michèle Friel, Mélanie Dupuis-Giuliani, Vincent Filiatrault, Louis-Charles Filiatrault and Zachary Frenkiel (corporate/M&A and debt financing), Jules Charette and Jonathan Charron (tax), Jean Piette (environmental), Thierry Dorval (competition), Patrick Galizia And Maude Grenier (labour and employment) and Martin Rochette (pensions).