Brookfield takes 49% stake in container terminal business of Japan's MOL
Brookfield Asset Management has formed a strategic alliance with Japanese transport company Mitsui O.S.K. Lines Ltd (MOL), which is intended to expand MOL's container terminal business. Under the terms of the strategic alliance agreement, MOL will transfer a 49 percent stake in its subsidiary International Transportation Inc (ITI) to a Brookfield-controlled fund. ITI is a holding company of TraPac LLC, and operates container terminals in the U.S. ports of Los Angeles and Oakland. Financial details of the transaction were not disclosed. Based in Toronto, Brookfield is a $175 billion manager of alternative assets.
16 January 2014•3 mins read
