Business, Freight News, Sea

$1 billion sale for Ports America?

[ July 15, 2016   //   ]

A recent report by Bloomberg News states that Ports America and Highstar Capital, a private equity firm that owns Ports America, is looking to find a buyer for the sale of Ports America. The company could be valued at about $1 billion in a sale.

Although those interviewed by Bloomberg asked not to be identified because the information is private, sources said that Highstar Capital, which owns Ports America, is working with investment bank RBC Capital Markets LLC to find a buyer.

Ports America is the largest independent maritime terminal operator on the U.S. Atlantic and Gulf Coasts. The company handled 10.1 million tons of general cargo and 1.7 million cruise ship passengers last year, according to its website.