AIG agrees to terminal deal
From Times Staff and Wire Reports
Insurance giant American International Group Inc. agreed to buy San Francisco-based MTC Holdings and its 32 seaport terminals. The deal includes facilities at the ports of Los Angeles and Long Beach. Terms weren’t disclosed.
MTC Holdings, one of the nation’s largest independent terminal operators, will continue to manage the facilities, which are expected to handle about 8 million containers this year.
In December, AIG agreed to buy the leases to Dubai Port World’s terminals in Newark, N.J., Philadelphia, Baltimore, Tampa, Fla., and New Orleans.
