TPM March 2010 Transaction Multiples for Major Container
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TPM March 2010
Transaction Multiples for Major Container Terminal Operations Acq. Date Target Business Acquirer 100% EV Est. Acq. Yr EV/EBITDA May 07 MTC Independent US container and cargo stevedoring company operating in 32 locations AIG Global Investment Group c. US$930 mil 11. 6 x Mar 07 Maher Terminals Port Elizabeth terminal in new Jersey and the Prince Rupert container terminal project in Vancouver RREEF US$2 bln 32. 1 x Feb 07 Montreal Gateway Terminal (TUI) Operates the Racine and Cast container terminals on the St Lawrence River in Montreal Morgan Stanley US$460 mil 17. 1 x Dec 06 Dubai Ports World (P&O USA) 6 US Terminals acquired as part of the P&O transaction AIG Global Investment Group US$980 mil 22. 0 x Nov 06 Orient Overseas (international) Ltd Container Terminal Portfolio in Vancouver, NJ, NYC Ontario Teachers Pension Plan US$2. 4 bil 20. 4 x Mar 06 P&O Ports Global terminal operator, stevedore and ferry operations Dubai Ports World US$7. 7 bil 14. 0 x Jan 05 CSXWT Global ports operator Dubai Ports World US$1. bln 14. 8 x
Transaction Multiples for Major Container Terminal Operations
Review the change in North American Ports Volume Potential § The outlook for North American Ports’ container throughput levels has changed dramatically since the end of 2007 Source: AAPA for historic volume levels