IFM, BCI to invest in Ontario Teachers'-owned terminal operator GCT
Australia's IFM Investors and British Columbia Investment Management Corp (BCI) have agreed to invest in GCT Global Container Terminals Inc (GCT), a Vancouver-based operator of four marine container terminals in Canada and the United States. No financial terms were disclosed for the deal, which will see IFM and BCI respectively hold 37.5 percent and 25 percent interests. They join existing GTI backer Ontario Teachers' Pension Plan, which will continue to hold a 37.5 percent interest. Founded in 2007, GTI is led by President and CEO Doron Grosman. In 2016, Reuters reported Ontario Teachers' was exploring potential deals, including the sale of a significant equity stake.
7 June 2018•3 mins read
