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

Ceva launches BRI block train thumbnail image

Ceva launches BRI block train

April 22 - Ceva Logistics North Asia has launched a block train service from China to Europe as the company looks to tap into the potential of the Belt and Road Initiative (BRI).
Views: 264
Crowley promotes Sandra Goranovic thumbnail image

Crowley promotes Sandra Goranovic

April 22 - Crowley Maritime has appointed Sandra Goranovic as vice president of finance and accounting for the Crowley Shipping business unit.
Views: 275
Penman joins Malin React thumbnail image

Penman joins Malin React

April 22 - Malin Group has named Graham Penman as business unit manager of its recently launched Malin React division.
Views: 1769
Big Bend Channel expanded thumbnail image

Big Bend Channel expanded

April 22 - Port Tampa Bay in Florida has completed the USD63 million expansion of the Big Bend Channel, one year ahead of schedule.
Views: 341

Heavy Lift Across The World

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