Canada Pension Plan Investment Board

US regulators balk at billion-dollar takeover of Ports America

Two U.S. Federal Maritime commissioners concerned about foreign ownership of American supply chains want federal officials to conduct a “full and thorough review” of the proposed purchase of Ports America by a Canadian pension fund.

In a letter sent last week to U.S. Treasury Secretary Janet Yellen, FMC Commissioners Carl Bentzel and Louis Sola warned that the proposed acquisition by the Canada Pension Plan Investment Board (CPP Investments) could run counter to U.S. economic interests.

“CPP...

https://www.freightwaves.com/news/us-regulators-balk-at-billion-dollar-takeover-of-ports-america

Canada pension fund to acquire Ports America

A view of containers being loaded and unloaded at the Port of Houston, where Ports America is a Terminal Operator.

The Canada Pension Plan Investment Board is set to become the full owner of Ports America, the largest U.S. terminal operator, after agreeing to acquire Oaktree Capital Management’s stake.

The price and terms of the acquisition were not disclosed. But Bloomberg reported that the deal, announced Wednesday, valued New Jersey-based Ports America at $4 billion.

Ports America operates terminals at 33 U.S. ports, including Los Angeles; New York-New Jersey; Savannah, Georgia; and Houston. CPPIB, which...

https://www.freightwaves.com/news/canada-pension-fund-to-acquire-ports-america

India’s Flipkart said to be looking for $3B in funding

Flipkart, the massive India-based e-commerce site owned by Walmart (NYSE: WMT), is reportedly in talks to raise $3 billion as it prepares for a possible initial public offering.

According to Bloomberg, the company is looking to raise the funds from SoftBank Group, which had previously invested in the company before selling its stake to Walmart in 2018, as well as Singapore’s GIC Pte, Canada Pension Plan Investment Boar and the Abu Dhabi Investment Authority.

The funding would value India’s...

https://www.freightwaves.com/news/indias-flipkart-said-to-be-looking-for-3b-in-funding