Elevate your local knowledge

Sign up for the iNFOnews newsletter today!

Select Region

Selecting your primary region ensures you get the stories that matter to you first.

Federal government sells stake in Ridley Terminals Inc. for $350 million

Federal government sells stake in Ridley Terminals Inc. for $350 million | iNFOnews.ca
The bulk carrier Unicorn Ocean is seen loading coal at Ridley Terminals, part of the Prince Rupert port system, March 8, 2013. The Canadian government has signed a deal to sell a 90 per cent stake in Ridley Terminals Inc. to a company owned by Riverstone Holdings and AMCI Group for $350 million. THE CANADIAN PRESS/Robin Rowland

TORONTO – The Canadian government has signed a deal to sell a 90 per cent stake in Ridley Terminals Inc. to a company owned by Riverstone Holdings and AMCI Group for $350 million.

The remaining 10 per cent stake will be transferred to the Lax Kw’alaams Band and the Metlakatla First Nation at the close of the sale.

Ridley Terminals, a federal Crown corporation, operates on Ridley Island in Prince Rupert, B.C.

It transfers bulk commodities such as coal and petroleum coke from rail cars to ocean-going vessels.

The Canada Development Investment Corp. put the stake in the company up for sale last year.

The deal is subject to the successful completion of a review by the Competition Bureau and other customary closing conditions.

News from © iNFOnews.ca, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

iNFOTEL

Related Articles