(April 8): The sale of the controlling stake in Associated British Ports has attracted initial interest from potential bidders, including KKR & Co as well as BlackRock Inc’s Global Infrastructure Partners, according to people familiar with the matter.
Brookfield Asset Management Ltd and Dubai-based port operator DP World Ltd are also planning to study the asset, the people said, asking not to be identified as the information is private.
The Canada Pension Plan Investment Board and Omers Administration Corp are looking to sell their combined 64% stake in AB Ports, seeking about £10 billion in a deal, the people said.
Considerations are ongoing and there’s no guarantee a transaction will take place, the people said. Representatives for Brookfield, CPPIB, GIP, KKR and Omers declined to comment while DP World didn’t respond to requests for comment.
AB Ports is the largest port operator in the UK with 21 facilities in England, Scotland and Wales, handling about 25% of the country’s seaborne trade, its website shows.
CPPIB owns a 33.9% stake in AB Ports while Omers holds 30%, according to the latest financial statement. The rest is held by Singpaore’s GIC Pte, Hermes Infrastructure and Wren House, a direct infrastructure investment arm of the Kuwait Investment Authority.
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DP World already operates two deepwater ports and freight rail terminals at London Gateway and Southampton with about 5,500 employees in the UK, according to its website.
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