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Issue #583 | Forest Products

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Forest Products

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2014 Media Kit
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Deutsche Bank seeks buyer for Maher Terminals

By: | at 01:36 PM | Channel(s): Ports & Terminals  

Germany’s Deutsche Bank is seeking a buyer for all or part of Maher Terminals, an operator of cargo container facilities in the United States and Canada that it bought for $2.3 billion including debt in 2007, The Wall Street Journal reported.

Citing people familiar with the matter, the paper said Maher had accumulated $1.5 billion in losses at Deutsche Bank since the financial crisis.

It cited one source as saying Deutsche Bank may sell the whole business or seek separate deals for Maher’s two terminals, or it could opt not to sell now at all.

It said a sale of the whole business could fetch a price between $800 million and $1 billion. (Reuters)