Deutsche Bank’s sale of Maher Terminals is set to close shortly, Port Authority of New York executive director Patrick Foye said at a conference Tuesday.
An agreement would still be subject to port authority approval.
“That’s good news,” he said at Capital Link’s New York Maritime Forum.
The bank announced in April that it was selling the New Jersey terminal, which can move 2 million teu of containers, to a fund managed by Macquarie Infrastructure and Real Assets.
But the deal has yet to be finalised.
Speaking to reporters, Foye declined to provide further detail on his announcement.
“‘Shortly’ is in the eye of the beholder,” he acknowledged.
Deutsche Bank had been seeking to sell the facility since 2014, seven years after buying it in 2007 for $2.3bn, according to the Wall Street Journal.
Last year, Maher sold its Fairview Container Terminal in the Canadian port of Prince Rupert for CAD 580m ($440m).
