Hermes, Canada Pension Plan invest £1.6bn in UK ports

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Hermes Infrastructure, parter of Hermes Investment Management, and the Canada Pension Plan Investment Board have signed an agreement to take a 30% stake in Associated British Ports – the owner of key UK ports – for an estimated £1.6bn.

The share will be purchased from GS Infrastructure Partners and Infracapital. This leaves Borealis Infrastructure and the Government of Singapore Investment Corporation as other key ABP shareholders. Subject to regulatory approval the deal should be finalised by the summer this year.

ABP owns some 21 ports in England, Scotland and Wales, which Hermes Infrastructure head Peter Hofbauer said provide long term predictable inflation linked cashflows.

The Canadian Pension Plan Investment Board has already invested some £7.6bn (€10.4bn) in UK infrastructure, property, public equity, real estate investment funds and direct investments.

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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