American Metals & Coal International and Riverstone Holdings purchase 90% interest in Ridley Terminal Inc. for C$350M
350.00 Million CAD
On July 12, 2019, a company owned by American Metals & Coal International and Riverstone Holdings LLC entered into an agreement to purchase a 90% interest in Ridley Terminal Inc. (“RTI”) from the Government of Canada for $350 million. RTI operates the Port Ridley coal export terminal in Prince Rupert, British Columbia. In the first five months of the year, RTI exported 2.36 million tonnes of metallurgical coal and 936,000 tonnes of thermal coal. The remaining 10% interest in RTI will be transferred to a limited partnership owned by the Lax Kw’alaams Band and the Metlakatla First Nation.
Completion of the transaction is subject to customary closing conditions, including Competition Act approval.
McCarthy Tetrault is advising American Metals & Coal International with a team led by Robin Mahood that includes Stephen Curran, Robert Nearing, Oliver Borgers, Donovan Plomp, Jonathan Bitran, Liezl Behm and Michael Alty.