DP World to buy Fairview terminal in Prince Rupert for $457m

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DP World announced today that it is to buy Maher Terminal’s Fairview terminal in Prince Rupert, Canada. With a concession that runs to 2034, and an extension to 2056 after phase two is finished, the price for the total outstanding stock, on a debt-free basis, is $457m ? which we think is a good deal for the Dubai operator. Regulatory authorities have yet to approve the purchase, but expect to see it finalised in the second half of the year.