Deutsche Bank to sell Maher Terminals to Macquarie

In case you missed this item at the end of last week, the Wall St Journal reported that Deutsche Bank is to offload New Work container terminal operator Maher Terminals to one of Macquarie’s infrastructure funds. The original sale of the company to Deutsche Bank in 2007 represented the height of container terminal values, as a wave of finance houses looked to invest in what was thought to be as close to a recession-proof business as could be found. The global financial crisis which followed shortly after showed how misguided that thinking was, with the WSJ reporting that Deutsche Bank booked some $1.5bn in losses on the deal.