Porter Aviation Holdings has sold Toronto Island’s Billy Bishop airport terminal to a consortium Nieuport Aviation Infrastructure Partners GP, which includes AGF Management, InstarAGF Asset Management – a joint venture between AGF and Instar Group – and billionaire investor Larry Tanenbaum. The terms of the deal haven’t been disclosed, although sources suggest it was expected to raise north of $750 million. Porter Aviation plans to use proceeds to fund expansion of Porter Airline.

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