Macquarie to Divest U.S. Port Terminal Operator Ceres

Australian financial conglomerate Macquarie Group said on Thursday it would divest its U.S.-based port terminal operator Ceres Terminals, with a source familiar with the matter placing the deal value north of $900 million.

Macquarie did not disclose any further details on the deal, and declined to comment on Reuters' request seeking confirmation of the sale value.

The Wall Street Journal in May reported that Macquarie was looking for about $1 billion from the sale, citing sources familiar with the matter.

The deal value could be at the lower end of what the Wall Street Journal reported, the source said.

Macquarie Infrastructure Partners III (MIP III), a fund managed by the financial conglomerate's asset management arm, acquired full control of the general cargo stevedoring operations in 2019 from Tokyo-based shipping and logistics firm Nippon Yusen Kaisha.

MIP III will sell the terminal to American marine terminal operator Carrix. However, Ceres Terminals Jacksonville and Intermodal Container Transfer Facility in Jacksonville, managed by Ceres, will not be a part of the deal. They will continue to be owned by MIP III, Macquarie said.

"We all look forward to the next chapter of growth with Carrix... confident that the combination will continue to serve our customers, employees and other stakeholders well," Ceres Terminals CEO Craig Mygatt said.

Shares of Macquarie were trading 1.1% higher as of 0255 GMT, heading for their third straight session of gains.

(Reuters - Reporting by Roushni Nair and Sameer Manekar in Bengaluru; additional reporting by Rishav Chatterjee; Editing by Rashmi Aich and Subhranshu Sahu)