Ports that handle a quarter of Britain's trade are to fall into Australian hands in a £10bn deal
The Port of Southampton, one of 19 ports in the Associated British Ports network that Australian fund IFM has agreed to acquire in a £10bn deal beating off rival bids from KKR, Apollo and Gautam Adani.
Canadian pension giants CPP Investments and OMERS are selling their combined 63.9% stake in Associated British Ports to a fund run by IFM Investors. IFM beat out KKR, Apollo and Indian billionaire Gautam Adani to secure the deal. ABP's network includes Southampton and the Humber. Regulatory approval and UK national security filings are still required, with completion anticipated in the first half of 2027.
ABP was taken private in 2006 for £2.8bn, a fraction of today's valuation.
The ports group supports more than half of Britain's offshore wind sector.
IFM describes itself as a fund whose backers are Australian and British pension funds.
