Australian fund IFM agrees £10bn deal to take control of the ports handling a quarter of Britain's sea trade
Southampton, Immingham and the Humber are among the 19 ports in the Associated British Ports network, which underpins more than half of the UK's offshore wind sector. CPP Investments and OMERS, two Canadian pension funds holding a combined 63.9% stake, are withdrawing after around twenty years as owners. IFM saw off rival bids from KKR, Apollo and Indian billionaire Gautam Adani to clinch the deal, which still requires national security clearance and is expected to complete in the first half of 2027.
IFM's backers include Australian pension funds alongside the UK pension fund Nest.
ABP was taken private in 2006 in a £2.8bn deal, a fraction of today's price.
ABP boss Henrik Pedersen hailed the sale as 'a powerful endorsement' of the business.
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The TelegraphBritish ports sold to Australian investment firm in £10bn dealFinancial TimesUK’s biggest port operator valued at over £10bn in Australian fund purchaseWorldCargo NewsAustralia’s IFM strikes deal for majority stake in Associated British Ports - WorldCargo NewsTraders UnionIFM Investors buys majority stake in Associated British Ports in deal valuing operator above £10bn - Traders UnionSplash247Australian fund takes control of UK ports giant in £10bn deal - Splash247Yahoo FinanceUK’s Biggest Port Operator Valued at £10 Billion in Stake Sale - Yahoo FinanceYahoo! Finance CanadaCPP Investments and OMERS Reach Agreement to Sell Entire Stakes in Associated British Ports to a Fund Managed by IFM Investors - Yahoo! Finance CanadaLloyd's ListAustralian fund buys controlling stake in Associated British PortsTradeWindsAssociated British Ports sold in deal valuing UK group at more than $13bnPortNews IAAAustralian fund IFM buys 64% of UK port operator ABP in £10bn-plus deal
