PSA International Pte Ltd (PSA) has completed the acquisition of Penn Terminals (Penn) located on the Delaware River, United States of America (USA), from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets, following formal approval by the relevant regulatory authorities.
Penn is one of the best equipped, privately owned multipurpose marine terminals on the Eastern Coast of the USA. Penn’s terminal, warehousing and stevedoring services have enabled it to successfully handle its clients' cargo since 1986. Penn is known industry wide for its reliability and efficiency in handling container, perishable, project, super sack, steel, pipes, forest products and other break-bulk cargoes.
About MIRA
Macquarie Infrastructure and Real Assets (MIRA) is one of the world’s leading alternativeasset managers. For more than two decades, MIRA has partnered with investors, governments and communities tomanage, develop and enhance assets relied on by more than 100 million people each day. As at 31 March 2019, MIRA managed USD129 billion in assets that are essentialto the sustainable development of economies and communities, including; 155 portfolio businesses, ~600 properties and 4.7million hectares of farmland. MIRA is a part of Macquarie Asset Management, the asset management arm of MacquarieGroup, a diversified financial group providing clients with asset managementand finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs 15,700 people.