Categories: Business, PD Ports, TeesportPublished On: 08.07.2021212 words1.1 min read

Brookfield starts sale of $2.8-billion U.K. ports group

Brookfield expects to close a sale of PD Ports before the end of the year

Brookfield Asset Management Inc. has kicked off the sale of PD Ports, a deal that could value one of the U.K.’s oldest port operators at more than 2 billion pounds (US$2.8 billion), according to people familiar with the matter.

The Canadian investment firm is working with advisers and has reached out to potential bidders, the people said, asking not to be identified as the matter is private. Brookfield expects to close a sale of PD Ports before the end of the year and the business could draw financial and strategic investors, the people said.

Deliberations are in the early stages, and no final agreements on the timing of any deal have been reached, the people said. A representative for Brookfield declined to comment.

The planned sale comes with infrastructure investors, flush with capital, on the lookout for targets that provide long-term, stable and predicable returns. Infrastructure transactions, involving everything from oil pipelines to telecommunication fibre and towers, were a bright spot for dealmaking during the pandemic last year and the pace of activity has continued into 2021 . . . .

. . . . continue reading g the article on the website Financial Post here