CN Rail seek­ing stake in Hal­i­fax ter­mi­nal

Medicine Hat News - - BUSINESS -

HAL­I­FAX Cana­dian Na­tional Rail­way is bid­ding to ac­quire a stake in the largest con­tainer ter­mi­nal in Eastern Canada.

The Mon­treal-based com­pany has con­firmed join­ing a part­ner to bid for an in­ter­est in Hal­term, a 30-hectare site at the Port of Hal­i­fax, but is de­clin­ing to pro­vide de­tails.

Hal­i­fax is Canada’s fourth­bus­i­est port in terms of con­tainer traf­fic, be­hind Van­cou­ver, Mon­treal and Prince Ru­pert in north­west­ern Bri­tish Columbia.

CN Rail is the lone rail­way op­er­a­tor in Hal­i­fax.

The Hal­term Con­tainer Ter­mi­nal was pur­chased by New York-based Mac­quarie In­fra­struc­ture Part­ners for $172.7 mil­lion in Jan­uary 2007.

In­dus­try an­a­lyst Wal­ter Sprack­lin of RBC Cap­i­tal Mar­kets says the pur­chase of a mi­nor­ity stake, although not large for CN, would be strate­gi­cally pos­i­tive for Canada's largest rail­way.

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