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IFM set to acquire 68% stake in Associated British Ports
Australian infrastructure fund IFM Investors is set to acquire 68% of ABP, the UK’s largest port owner and operator, with CPPIB and OMERS agreeing to sell their stakes.
Australian infrastructure fund IFM Investors is set to acquire a 68% stake in Associated British Ports (ABP), the UK’s largest port owner and operator, after months of rumours about possible bidders.
ABP shareholders Canada Pension Plan Investment Board and OMERS said they agreed terms with IFM to sell their respective 33.9% and 30.0% stakes. The holdings were originally acquired in 2015 and 2006.
The report cites a 68% stake, while the two named sellers’ stakes add up to 63.9%. Completion timing and other terms were not provided.
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