Deutsche Bank Disposing of Maher Terminals USA

first_imgzoom Germany’s commercial and investment bank Deutsche Bank has reached an agreement with Macquarie Infrastructure Partners III (MIP III) on the sale of North America’s container terminal operator Maher Terminals USA.Under the deal, MIP III will acquire the entire stake in the 454-acre multi-user container terminal in Port Elizabeth, New Jersey.Deutsche Bank did not disclose the terms of the transaction, however, the sale is not expected to have a material impact on the bank’s financials.Maher Terminals in New Jersey, which was acquired by Deutsche Bank in 2007, currently moves more than 2 million TEUs per year.This is a legacy asset held within the Bank’s Non-Core Operations Unit (NCOU).“This sale marks another important step in Deutsche Bank’s commitment to the reduction of legacy assets,” said Pius Sprenger, Deutsche Bank’s Head of the NCOU.In 2015, Deutsche Bank sold Maher Terminals’ Canadian operations Fairview Container Terminal in Prince Rupert, British Columbia, to DP World for an amount of CAD 580 million (USD 457 million).At the time, Fairview, a purpose built terminal, had a capacity of 850,000 TEUs, which is expected to be expanded to 1.35 million TEUs by mid-2017.The expansion project would provide a second deep-water berth, four additional gantry cranes, and land reclamation to further expand the container yard.last_img read more

The real Wolf Hall is unearthed in Wiltshire by archaeologists

The real “Wolf Hall” has been ­discovered after owners of the ­surrounding land allowed archaeologists to explore the area because they were inspired by the BBC series.The home of the Seymour family, where Henry VIII first showed an interest in his third wife, Jane, fell into ruin within 40 years of being built and was demolished, its exact location never known.Now, original features of the 16th-century property have been uncovered by a team of archaeologists and historians who have proven ­beyond doubt its true location.The discoveries were made in the grounds of the much later built Wolf Hall Manor that stands today in ­Burbage, Wilts.–– ADVERTISEMENT ––The findings include a network of Tudor brick sewers, several large rooms and ornate tiles that are likely to have been walked on by Henry VIII. Off the back of Hilary Mantel’s award-winning books and the hugely popular television adaptation, the owners of Wolf Hall allowed ­archaeologists to explore the site for the first time.Dominic Binney, who inherited Wolf Hall Manor in 2013, said: “Before the books and the BBC series we got maybe one visitor a year, if that. Now we get lots of people all the time, they have ­really put Wolf Hall on the map.” Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. read more