IFM Investors has agreed to acquire a majority stake in Associated British Ports (ABP), the largest ports group in the United Kingdom, from Canada Pension Plan Investment Board (CPP Investments) and OMERS.
CPP Investments agreed to sell its entire 33.9 percent stake, which it acquired in 2015, and OMERS its entire 30 percent stake, acquired in 2006, to a fund managed by IFM Investors. The Financial Times reports the deal values ABP at more than £10 billion ($13 billion).
ABP has a network of 19 strategically located ports across England, Scotland and Wales, serving some of the country’s most important trade and industrial regions. As the operator of 19 facilities, the business handles approximately 25 percent of U.K. seaborne trade and also provides support for more than half of the United Kingdom’s offshore wind.
“We look forward to supporting continued development of ABP’s infrastructure and operations, drawing on IFM’s long-term investment approach
