News / OOCL to sell Long Beach Container Terminal to investors led by Macquarie

OOCL has agreed to sell its state-of-the-art Long Beach Container Terminal (LBCT) to a group of institutional investors led by Australia’s Macquarie Infrastructure Partners (MIP) for $1.78bn – less than the reported $2bn it cost to build.

The sale is the final condition for Cosco’s takeover of OOCL: last year, the US departments of Homeland Security and Justice decreed the terminal must be divested from the Cosco/OOCL portfolio for the purchase to win government approval.

As part of the agreement, OOCL has ...