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Associated Brtish Ports go Canadian for £1.6 billion

By: Chris Anderson 31/03/2015 LSE

General Ports

ABP Finance Plc

Further to the statement issued on 16 October 2014, ABP (Jersey) Limited (together with its subsidiaries, the "Group"), the ultimate parent company of ABP Finance Plc (the "Company"), has informed the Company that Goldman Sachs Infrastructure Partners ("GSIP") and Infracapital have signed an agreement for the sale of their combined 33.33% stake in the Group.

A consortium comprising Canada Pension Plan Investment Board ("CPPIB") and Hermes Infrastructure has agreed to acquire a stake in the Group from GSIP and Infracapital of at least 30%,and may acquire a further 3.33% subject to pre-emption rights. The transaction values the combined 33.33% stake in ABP held by GSIP and Infracapital at £1.6 billion (on an equity value basis). The transaction is expected to complete in summer 2015, subject to receipt of customary anti-trust clearances.

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Associated Brtish Ports go Canadian for £1.6 billion

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