Toronto investor Brookfield Infrastructure is exploring joint Latin American maritime investments with Japanese shipping giant Mitsui OSK (MOL) Lines.
Brookfield CEO Sam Pollock was speaking after Brookfield posted 47.6 per cent year-on-year profit increase in 2013 to US$682 million, reported Lloyd's List.
Brookfield, he said, has signed agreements, together with other institutional investors to take a 50 per cent stake in MOL's TraPac terminals in Los Angeles and Oakland, but not the one in Jacksonville.
"It is a strategic relationship and MOL does not see it as a one-off transaction to raise capital. MOL sees us as a partner to work with them to find new opportunities in Panama, Colombia, Mexico or Brazil," Mr Pollock said.
Mr Pollock said that the deal, due to be finalised by the end of the first half, took two years of negotiations with MOL.
"We get to leverage the fact that they call at many of those ports, and in those regions they can deliver volume. They need someone like us with good experience in those markets and the ability to transact," he said.
"It is a 50-50 deal and we have co-control with our partners. We are very comfortable with our ability to make decisions on management. It is a typical governance structure for us," he said.
Brookfield CEO Sam Pollock was speaking after Brookfield posted 47.6 per cent year-on-year profit increase in 2013 to US$682 million, reported Lloyd's List.
Brookfield, he said, has signed agreements, together with other institutional investors to take a 50 per cent stake in MOL's TraPac terminals in Los Angeles and Oakland, but not the one in Jacksonville.
"It is a strategic relationship and MOL does not see it as a one-off transaction to raise capital. MOL sees us as a partner to work with them to find new opportunities in Panama, Colombia, Mexico or Brazil," Mr Pollock said.
Mr Pollock said that the deal, due to be finalised by the end of the first half, took two years of negotiations with MOL.
"We get to leverage the fact that they call at many of those ports, and in those regions they can deliver volume. They need someone like us with good experience in those markets and the ability to transact," he said.
"It is a 50-50 deal and we have co-control with our partners. We are very comfortable with our ability to make decisions on management. It is a typical governance structure for us," he said.