The Financial Times has reported that two Canadian pension giants plan to sell their stakes in Associated British Ports in a deal that they hope will value the UK’s biggest ports operator at more than £10bn.
The Canada Pension Plan Investment Board (CPPIB) and Ontario Municipal Employees Retirement System (OMERS) , which own 34 per cent and 33 per cent of ABP, respectively, have appointed bankers at investment bank Morgan Stanley to explore a sale of their stakes.
ABP was taken private in 2006 by a group of investors, including Goldman Sachs’ infrastructure arm and OMERS, for £2.8bn. Ownership of the group has since changed, with CPPIB acquiring its stake in 2015.
Other major shareholders include Singapore’s sovereign wealth fund GIC with 20 per cent, the Kuwait Investment Authority’s Wren House Infrastructure with 10 per cent and asset manager Hermes, which owns about 6 per cent.
The full article and more analysis can be found here FT article
