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Port Of South LA, Host Agree On Final Purchase Price Of Avondale Global Gateway

Recently, the Port of South Louisiana (PortSL) Port Commission voted to approve the amended purchase agreement with HOST of Avondale Global Gateway (AGG) at the final negotiated price of $330 million. Port SL will seek revenue-backed bonds to fund $280 million of the final purchase price and HOST will take on a $50 million seller’s note. While the Port of South Louisiana takes ownership of the property, HOST will act as terminal manager and stevedore.

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