Oaktree Capital Management has sold its majority stake in Ports America, the largest terminal operator in North America, for an undisclosed price.
Canada Pension Plan Investment Board (CPP Investments) has agreed to acquire the stake giving it 100% control of the company that was founded in 1921.
CPP Investments has been an existing minority investor in Ports America, which has operations at 70 locations across 33 ports on each of the US' three coasts, since 2014.
