Abu Dhabi Investment Authority is among parties considering a bid for a 34% stake in Associated British Ports, the UK’s biggest port operator, according to people with knowledge of the matter.
Infrastructure investors Stonepeak Partners LP and Canada’s British Columbia Investment Management Corp. are among others interested in the stake being sold by Canada Pension Plan Investment Board, according to the people. The stake could be valued at about £2 billion ($2.4 billion) or more, they said.
ABP owns and operates 21 ports in England, Scotland and Wales and handles around one quarter of the UK’s seaborne trade and more than £150 billion of UK trade annually. CPPIB bought its stake in the ports group from Goldman Sachs Group Inc. and Prudential Plc for £1.6 billion in 2015.
Other ABP shareholders include Omers Infrastructure Management, Singaporean sovereign wealth fund GIC Pte and Wren House Infrastructure.
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