Public Sector Pension Investment Board (PSP Investments) has sold minority stakes in UK port owner and operator Forth Ports to its investment partners GLIL Infrastructure (GLIL), First State Super, and Construction and Building Unions Superannuation (Cbus
“We are very pleased to be partnering with such high-quality global investment firms to deliver on our ambitious expansion and investment programme around the UK,” said Charles Hammond, group chief executive of Forth Ports.
HLPFI reported on October 5 that Arcus European Infrastructure Fund 1 LP would sell its shares in Forth Ports to PSP Investments. On closing the transaction PSP Investments, which already has a stake in Forth Ports, will become the majority shareholder.
“Following our acquisition of Arcus European Infrastructure Fund 1 LP’s stake in Forth Ports, we are very excited to partner with First State Super, Cbus and GLIL as we commence the next phase of the company’s development, led by Forth Ports’ stellar management team,” said Patrick Samson, managing director and head of infrastructure investments, PSP Investments. “We will continue to own a majority of Forth Ports, which will form a core part of our UK infrastructure investments portfolio.”
Forth Ports owns and operates eight commercial ports in the UK, including Tilbury, Grangemouth, Dundee, Rosyth and Leith.