DP World has teamed up with Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) to create a $3.7bn investment platform.
The joint venture said it plans to invest in global port and terminal businesses globally except those within the United Arab Emirates.
DP World will hold a 55% share in the venture, with CDPQ controlling the remaining 45%.
The investment vehicle will be seeded with two of DP World’s Canadian container terminals, located on the Pacific Coast in Vancouver and Prince Rupert, with CDPQ acquiring a 45% stake of the combined assets for $640m.
