Brookfield Asset Management is selling almost half of UK ports and logistics business PD Ports to Pontegadea Inversiones for an undisclosed sum.
Brookfield has agreed to sell the 49% stake to the investment firm owned by Zara founder Amancio Ortega, and will remain a long-term shareholder in the ports business.
PD Ports operates across 11 nationwide locations including Teesport and Hartlepool in the north, a cluster of sites on and around the River Humber, and Felixstowe, Thames and the Isle of Wight in the south. The company serves as the Statutory Harbour Authority for the River Tees, holding legal responsibility for safe navigation and river maintenance across its 12-mile jurisdiction to the Tees estuary.
Pontegadea is investing as part of its global diversification strategy, reinforcing its commitment to investing in innovative infrastructure with established international partners.
Frans Calje, CEO of PD Ports, said: “This deal signals a bold new chapter for PD Ports – one that builds on our proud heritage and sets a confident course for the future. We look forward to working with our new shareholder to drive the continued growth of our business.
“PD Ports’ ability to attract a high-quality investor is a powerful endorsement of the business, its people and its long-term vision. While we have successful operations around the UK – including Groveport, Felixstowe and the Isle of Wight – we are firmly anchored in Teesside and will continue to make targeted investments in our sites and our operations here and around the UK.”
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