Teachers Makes Marine Terminal Buy

Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, has agreed to acquire four marine terminals from Hong Kong-based Orient Overseas (International) Ltd. (HK: 316) for $2.35 billion, plus the assumption of around $60 million in net debt. The deal is expected to close in Q1 2007, pending OOIL shareholder and regulatory approvals. UBS advised OOIL on the transaction, which includes terminals in Vancouver, Delta, British Columbia, Staten Island and New Jersey. www.ooilgroup.com