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Abu Dhabi weighs bid for 34% stake in UK port operator

Associated British Ports
Associated British Ports owns and operates 21 ports in England, Scotland and Wales

Abu Dhabi Investment Authority (ADIA) is among several companies planning to bid for a 34 percent stake in Associated British Ports (ABP), valued at nearly £2 billion ($2.42 billion).

Stonepeak Partners LP and British Columbia Investment Management Corporation are among the other investors interested in the stake being sold by Canada Pension Plan Investment Board (CPPIB), Bloomberg News reported, citing people familiar with the matter.

ABP owns and operates 21 ports in England, Scotland and Wales. It handles around one-quarter of the UK’s seaborne trade and more than £150 billion of UK trade annually. 

CPPIB purchased its stake in the ports group from Goldman Sachs Group Inc. and Prudential Plc for £1.6 billion in 2015.

Other ABP shareholders are Omers Infrastructure Management, Singaporean sovereign wealth fund GIC Pte and Wren House Infrastructure.

Talks are in the early stages, with no certainty on offers being made, the report said.

In December 2022, Saudi-based Hassana Investment Company invested $2.4 billion in three of DP World’s flagship UAE assets, which include minority stakes in Jebel Ali Port, Jebel Ali Free Zone and National Industries Park.