Latest news from Heavy Lift & Project Forwarding International Magazine

ABP gets new shareholder

April 2 - The Canada Pension Plan Investment Board (CPPIB) and Hermes Infrastructure are to buy a 30 percent stake in Associated British Ports (ABP) for about GBP1.6 billion (USD2.4 billion), and may acquire a further 3.33 percent, depending on pre-exempt

CPPIB and Hermes Infrastructure, part of Hermes Investment Management, are acquiring this interest in ABP from GS Infrastructure Partners and Infracapital, while Borealis Infrastructure and Government of Singapore Investment Corporation (GIC) remain as ABP shareholders. The transaction is conditional on customary anti-trust clearances and is expected to close in summer 2015.

The deal will allow the Hermes-CPPIB consortium to acquire a further 3.33 percent in the company, depending upon pre-emption rights, the buyers said in a statement on Tuesday.

ABP is the UK's leading ports group and owns and operates 21 ports in England, Scotland, and Wales. ABP's business as a landlord port owner and operator is underpinned by a diverse cargo base, long-term contracts with a broad mix of blue chip customers and high quality assets.

A significant investor in the UK, CPPIB has invested approximately GBP7.6 billion (USD11.27 billion) in real estate, infrastructure, public equities, real estate investment funds, and direct investments, as at December 31, 2014.

Hermes Infrastructure, part of Hermes Investment Management which manages GBP28.6 billion (USD42.41 billion) and advises on GBP134 billion (USD198.7 billion) through ESG and stewardship services, invests in high quality infrastructure assets on behalf of its clients and is focused on delivering enhanced risk-adjusted returns for investors.

www.abports.co.uk

Heavy Lift | News

USA ends steel and aluminium tariffs on Canada and Mexico thumbnail image

USA ends steel and aluminium tariffs on Canada and Mexico

May 24 - The USA is removing steel and aluminium tariffs imposed on Canada and Mexico under Section 232 of the Trade Expansion Act of 1962, with all retaliatory tariffs on US goods and any pending litigation also coming to an end.
Views: 300
Maxim names duo for Pacific Northwest thumbnail image

Maxim names duo for Pacific Northwest

May 24 - Maxim Crane Works has appointed Travis Wilt and Alex Clark to lead the expansion of its services in the Pacific Northwest region of North America. 
Views: 315
PPG restructures training course thumbnail image

PPG restructures training course

May 24 - The Project Professionals Group (PPG) has restructured its project cargo forwarding training course into a one-day format.
Views: 293
Crosby acquires Gunnebo Industries thumbnail image

Crosby acquires Gunnebo Industries

May 24 - Lifting, rigging and material handling equipment supplier the Crosby Group has acquired Sweden-headquartered Gunnebo Industries from Nordic private equity firm Segulah.
Views: 362

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.