HeadlinesBriefing favicon HeadlinesBriefing.com

Apollo IFM KKR Bid For AB Ports Stake

Bloomberg Markets •
×

Apollo Global Management, IFM Investors, and KKR & Co. have reached the final round of bidding for a majority stake in Associated British Ports, the UK's biggest port operator. Canada Pension Plan Investment Board and Omers Administration Corp. are seeking to sell their combined 64% stake, targeting a valuation of approximately £10 billion ($13.6 billion). Omers was part of the original consortium that acquired AB Ports private in 2006.

The sale process involves 21 facilities across England, Scotland, and Wales. Sources indicate the finalists are competing to secure the strategic asset in a competitive auction environment.