Selected Sullivan & Cromwell infrastructure matters dealing with port facilities include:
  • A member of a consortium led by Macquarie Infrastructure Partners in the purchase of Long Beach Container Terminal from Orient Overseas (International) Ltd. pursuant to a National Security Agreement that COSCO Shipping, a Chinese state-owned enterprise, entered into with CFIUS in connection with COSCO's acquisition of Hong Kong-based Orient Overseas.
  • Grupo Argos's COP 407 billion sale of its 50% stake in the port operator Compañía de Puertos Asociados (Compas) to West Street Infrastructure Partners III, an investment fund managed by Goldman Sachs.
  • GCT Global Container Terminals, in which S&C represented GTC, a portfolio company of Ontario Teachers' Pension Plan Board (OTPPB), in the refinancing of its existing credit facility and the novation and termination of its existing interest-rate swaps. S&C also represented OTPPB in its transaction with IFM Investors and British Columbia Investment Management, whereby IFM and BCI will each join as equity partners in GCT Global Container Terminals.
  • Newcastle Coal Infrastructure Group's $325 million senior secured notes private placement and simultaneous offering of $132.9 million of substantially identical notes to one of its equity holders to refinance a portion of the project finance debt to finance the construction of its coal export terminal.
  • Asciano's $1 billion debut U.S. debt Rule 144A/Reg. S offering. Asciano is the largest national rail freight and port operator in Australia.
  • Orient Overseas (International) of Hong Kong's $2.35 billion sale of four marine container terminals to Ontario Teachers' Pension Plan Board, in which S&C represented OTPPB.

    The project includes the acquisition of terminals in the United States and Canada and represents the largest container terminal acquisition in North America, as well as the largest North American port financing done in the syndicated loan market.
  • Maher Terminals acquisition, in which S&C represented Deutsche Bank with respect to Port Authority matters in RREEF Infrastructure's acquisition of Maher Terminals, an operator of harbor facilities in Port Elizabeth (New Jersey) and Port of Prince Rupert (British Columbia, Canada).
  • P&O Ports North America, in which S&C represented DP World in connection with its sale of 100 percent of the outstanding stock of P&O and PORTS Insurance to AIG Global Investment Group's infrastructure fund.
  • SSA Marine, in which S&C represented Goldman Sachs Infrastructure Partners in its significant equity investment in Carrix, the parent company of SSA Marine, the largest U.S.-owned, privately held marine terminal operator in the world, with more than 120 marine and rail operations worldwide, including 11 container terminals in the United States, Panama, Mexico and Chile.
  • LLX Minas-Rio Logística Comercial Exportadora's R$1.3 billion financing of its iron ore port facility in Brazil, with financing that included lending from BNDES.
  • a potential greenfield container terminal in Brazil, in which S&C represented a bidder.
  • iron-ore export terminal at Sepetiba, Brazil, in which S&C advised Ferteco and its German shareholders in construction of the $100 million terminal.
  • Panama Canal Authority, in which S&C advised on the legal and constitutional framework in preparation for the expansion of the Panama Canal.