Transaction|January 16, 2007
Macquarie Infrastructure Partners completes acquisition of Halterm Limited
Torys acted as counsel to Macquarie Infrastructure Partners, working with in-house counsel Robert Lawsky. The Torys team included Philip Symmonds, Krista Hill and John Guccione (M&A), Scott Kraag (lending), Corrado Cardarelli and Richard Johnson (tax), Sabrina Gherbaz and Graham Rawlinson (real estate), Christina Medland, Mitch Frazer and Stacey Parker-Yull (pension and employment), Dennis Mahony and Michael Fortier (environmental), Eric Boehm (technology), Carolyn Naiman (competition) and Philip Mohtadi (Investment Canada).
On January 16, 2007, Macquarie Infrastructure Partners acquired the outstanding common shares and promissory notes of Halterm Limited, the wholly owned subsidiary of Halterm Income Fund, for C$172.75 million.
Immediately after the acquisition, Halterm Income Fund redeemed all of its outstanding trust units for approximately C$19.08 per unit in cash, after the retirement of existing debt and costs incurred by the fund relating to the transaction. The common shares and promissory notes of Halterm represented substantially all of the assets of the fund.
Halterm operates a container terminal and cargo handling facility on a 72-acre site in the Port of Halifax, Nova Scotia. With deep water berths and six ship-to-shore gantry cranes, the Halterm terminal provides an essential logistical link between Canadian and international shipping vessels and the rail and truck transportation systems that connect the port to major markets in Canada and the mid-western United States.
Immediately after the acquisition, Halterm Income Fund redeemed all of its outstanding trust units for approximately C$19.08 per unit in cash, after the retirement of existing debt and costs incurred by the fund relating to the transaction. The common shares and promissory notes of Halterm represented substantially all of the assets of the fund.
Halterm operates a container terminal and cargo handling facility on a 72-acre site in the Port of Halifax, Nova Scotia. With deep water berths and six ship-to-shore gantry cranes, the Halterm terminal provides an essential logistical link between Canadian and international shipping vessels and the rail and truck transportation systems that connect the port to major markets in Canada and the mid-western United States.