Federal government sells stake in Ridley Terminals Inc. for $350 million

TORONTO — The Canadian government has signed a deal to sell a 90 per cent stake in Ridley Terminals Inc. to a company owned by Riverstone Holdings and AMCI Group for $350 million.

The remaining 10 per cent stake will be transferred to the Lax Kw'alaams Band and the Metlakatla First Nation at the close of the sale.

article continues below

Ridley Terminals, a federal Crown corporation, operates on Ridley Island in Prince Rupert, B.C.

It transfers bulk commodities such as coal and petroleum coke from rail cars to ocean-going vessels.

The Canada Development Investment Corp. put the stake in the company up for sale last year.

The deal is subject to the successful completion of a review by the Competition Bureau and other customary closing conditions.

Read Related Topics

© Copyright Times Colonist



Most Popular