Macquarie Infrastructure Partners, alternative asset managers, specializing in infrastructure and real estate, agreed to acquire Long Beach Container terminal from OOCL, a Hong Kong container shipping and logistics service company, for $1.8bn. The completion of the sale is currently subject to approvals from the relevant regulatory authorities and other customary conditions. Macquarie beat 52 other bidders for the prized business, including big names such as Seaspan, EQT Infrastructure and Yildirim Group, which were in the final shortlist. “This transaction marks another key milestone in our relationship with OOIL and we greatly appreciate their significant long-term customer commitment to LBCT. We look forward to partnering with the Port of Long Beach and the LBCT management team to ensure that LBCT delivers high-quality service to OOCL and our other customers going forward. We are also committed to completing the current expansion of LBCT by 2022, which will significantly increase the capacity of the terminal," Karl Kuchel, Macquarie Infrastructure Chief Executive.