Australian fund takes control of UK ports giant in £10bn deal

Australian infrastructure investor IFM Investors has agreed to acquire a controlling stake in Associated British Ports (ABP), Britain’s largest port operator, in a deal valuing the business at more than £10bn ($13.4bn).

The transaction will see Canadian pension giants CPP Investments and OMERS sell their combined 63.88% stake in ABP to Global Infraco Haven Bidco, a subsidiary of IFM.