Toronto, ON – The Canadian government has signed a deal to sell a 90 per cent stake in Ridley Terminals Inc. (RTI) to a company owned by Riverstone Holdings and AMCI Group for $350 million.
The remaining 10 per cent stake will be transferred to the Lax Kw’alaams Band and the Metlakatla First Nation at the close of the sale.
Established in 1983, as a federal Crown corporation, RTI operates on Ridley Island near Prince Rupert, British Columbia, where it transfers bulk commodities from rail cars onto ocean-going vessels. The primary commodities handled by RTI are coal, petroleum coke and liquefied petroleum gas (LPG).
The Canada Development Investment Corp. put the stake in the company up for sale last year.
The deal is subject to the successful completion of a review by the Competition Bureau and other customary closing conditions.