Ontario Teachers’ Pension Plan, IFM Investors and British Columbia Investment Management Corp. have entered into a transaction whereby IFM and BCI will each join as equity partners in GCT Global Container Terminals Inc. (GCT), a leading container terminal operator in North America.
Ontario Teachers will continue to hold 37.5 percent of GCT, with IFM acquiring a 37.5 percent holding and BCI acquiring 25 percent. The transaction is subject to customary and required regulatory approvals and consents.
Headquartered in Vancouver, GCT operates four Green Marine certified terminals in two principal North American ports. Through GCT USA on the East Coast, the company operates two award-winning facilities: GCT New York on Staten Island, N.Y., and GCT Bayonne in Bayonne, N.J. On the West Coast, GCT Canada operates two gateway terminals: GCT Vanterm and GCT Deltaport in Vancouver and Delta, B.C., respectively.
