Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) has reached an agreement with
Macquarie Infrastructure Partners III (“MIP III”), a fund managed by
Macquarie Infrastructure and Real Assets (“MIRA”), to sell Maher
Terminals USA, LLC, a 454-acre multi-user container terminal in Port
Elizabeth, New Jersey.
Under the transaction, MIP III has agreed to acquire 100% of Maher
Terminals USA, LLC. This is subject to Port Authority and other
regulatory approvals. Terms of the transaction were not disclosed, but
are not expected to have a material impact on Deutsche Bank’s financials.
Maher Terminals in New Jersey currently moves more than 2 million
twenty-foot-equivalent containers per year and provides a vital
transport link between land and water for the global marketplace. Since
acquiring the asset in 2007, Deutsche Bank has managed this vital
transport link through the financial crisis and recovery.
This is a legacy asset held within the Bank’s Non-Core Operations Unit
(NCOU). In 2015, Deutsche Bank sold Maher Terminals’ Canadian operations
Fairview Container Terminal in Prince Rupert, British Columbia, to DP
World.
“This sale marks another important step in Deutsche Bank’s commitment to
the reduction of legacy assets,” said Pius Sprenger, Deutsche Bank’s
Head of the NCOU.
About MIRA
Macquarie Infrastructure and Real Assets (MIRA) is the world's leading
infrastructure asset manager with growing portfolios in real estate,
agriculture and energy. MIRA manages more than $100 billion of assets
under management invested in more than 120 portfolio businesses, ~ 300
properties, ~ 3.6 million ha of farmland. MIRA is part of Macquarie
Group, a leading financial services provider across a diverse range of
sectors around the world. Founded in 1969, Macquarie Group is listed on
the Australian Stock Exchange and has operations in 28 countries and has
a total of $370 billion in assets under management. MIP III is a
diversified, closed end infrastructure investment vehicle that focuses
on investments in infrastructure and related assets in the US and Canada.
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail
banking, transaction banking and asset and wealth management products
and services to corporations, governments, institutional investors,
small and medium-sized businesses, and private individuals. Deutsche
Bank is Germany’s leading bank, with a strong position in Europe and a
significant presence in the Americas and Asia Pacific.
This release contains forward-looking statements. Forward-looking
statements are statements that are not historical facts; they include
statements about our beliefs and expectations and the assumptions
underlying them. These statements are based on plans, estimates and
projections as they are currently available to the management of
Deutsche Bank. Forward-looking statements therefore speak only as of the
date they are made, and we undertake no obligation to update publicly
any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and
uncertainties. A number of important factors could therefore cause
actual results to differ materially from those contained in any
forward-looking statement. Such factors include the conditions in the
financial markets in Germany, in Europe, in the United States and
elsewhere from which we derive a substantial portion of our revenues and
in which we hold a substantial portion of our assets, the development of
asset prices and market volatility, potential defaults of borrowers or
trading counterparties, the implementation of our strategic initiatives,
the reliability of our risk management policies, procedures and methods,
and other risks referenced in our filings with the U.S. Securities and
Exchange Commission. Such factors are described in detail in our SEC
Form 20-F of 11 March 2016 under the heading “Risk Factors”. Copies of
this document are readily available upon request or can be downloaded
from www.db.com/ir.
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