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Macquarie agrees US$1.3b sale of Poland’s Gdansk port terminal

Macquarie agrees US$1.3b sale of Poland’s Gdansk port terminal

A consortium of investors including Poland’s sovereign wealth fund PFR has agreed to buy the country’s largest container terminal in Gdansk from the infrastructure fund of Australia’s Macquarie in a deal worth more than US$1.3 billion, the companies said on Tuesday.

Poland’s ruling Law and Justice (PiS) party has said the country was too dependent on foreign investors, who bought into the country in the 1990s and 2000s, and the deal means a state entity will take a stake in a strategic asset.

“We are convinced that the consortium we have created…guarantees the development of this port in the coming decades,” PFR Chief Executive Pawel Borys told reporters.

The consortium buying the port includes global port group PSA International and fund manager IFM Investors, in addition to PFR.