Gautam Adani is weighing a bid for Britain’s largest port operator, the first UK investment by the Indian industrialist. The billionaire chair of Adani Group, which spans ports, media, mining and utilities, is studying an offer for Associated British Ports as Canadian pension funds prepare to sell their stakes. The Canada Pension Plan Investment Board and Ontario Municipal Employees Retirement System, which own 34 % and 33 % of ABP respectively, are seeking a sale that could value the operator at more than £10bn. Asset manager Hermes, holding about 6 %, could also divest.

Adani’s interest is said to be in gaining a foothold in a G7 economy and opening up other opportunities. A spokesperson for the Adani port business said the group “continually evaluates opportunities that align with our long‑term strategy,” and did not comment on speculation. If a deal proceeds, it may not close within the year and could involve a partnership.

ABP handles roughly a quarter of the UK’s seaborne trade and owns 21 ports. Other major shareholders include Singapore’s sovereign wealth fund GIC (20 %) and the Kuwait Investment Authority’s Wren House Infrastructure (10 %). Adani’s group also runs ports in Israel and Sri Lanka and a coal mine in Australia. Despite recent fraud allegations and U.S. regulatory probes, the Adani Group has repeatedly denied wrongdoing.