Australian Fund to Acquire Majority Stake in UK’s Largest Port Operator in $13.4 Billion Deal

Australia-based IFM Investors has agreed to acquire a controlling stake in Associated British Ports (ABP), the UK’s largest port operator, in a deal that values the company at approximately £10 billion ($13.4 billion).

Under the agreement announced Wednesday, a fund managed by IFM Investors will purchase a combined 63.9% stake from two Canadian pension investors. Canada Pension Plan Investment Board (CPP Investments) will sell its 33.9% holding, while OMERS will exit its 30% stake.

The companies did not disclose financial terms, although Bloomberg reported that the transaction values ABP at approximately £10 billion, citing a person familiar with the deal.

ABP operates 19 port facilities across the UK, including major gateways at Southampton, Immingham and Hull. The company handles approximately 25% of the country’s seaborne trade and plays a significant role in supporting Britain’s energy sector, including more than half of its offshore wind capacity.

The acquisition represents a major change in ownership for one of Britain’s most important maritime infrastructure businesses. OMERS has held its stake since 2006, while CPP Investments joined the ownership group in 2015.

Kyle Mangini, global head of infrastructure at IFM Investors, said the investment would support continued development of ABP’s port infrastructure and operations.

The deal also reflects growing interest among pension funds and infrastructure investors in port assets, which offer long-term exposure to international trade, energy infrastructure and industrial activity.

IFM Investors, which is owned by Australian pension funds and the UK’s Nest pension scheme, manages approximately £157 billion in assets globally. The firm already has investments in port infrastructure around the world.

ABP has continued investing in its facilities in recent years, including the Immingham Renewable Fuels Terminal, Green Port Hull and Southampton’s Horizon cruise terminal.

Henrik L. Pedersen, chief executive of ABP, welcomed the agreement, describing the investment as an endorsement of the company’s business and long-term strategy.

He said ABP intends to pursue further growth opportunities alongside IFM Investors and its remaining shareholders.

CPP Investments and OMERS said the sale would allow them to realize the value of their long-term investments and redeploy capital into new opportunities.

The transaction remains subject to customary shareholder and regulatory approvals, including national security review, and is expected to close in the first half of 2027.

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