Major regional, national and international groups have been reported to be backing Tees Valley mayor Ben Houchen’s bid to acquire PD Ports

Some of the world’s leading investment groups are reported to be backing Tees Valley mayor Ben Houchen’s bid to buy the owners of Teesport.

Reports suggest that the pensions giant Legal & General – which has previously invested more than £200m in other parts of the North East – as well as the Pension Insurance Corporation and Credit Suisse are part of the deal that could be worth up to £2bn.

Also said to be involved is the Northumberland Estates, the business wing of the Duke of Northumberland and the Percy family, which previously told Teesside Live that it would be “delighted to invest” in the area.

The future of Teesport has been in question since reports that Canadian owners Brookfield Asset Management was looking to offload the company, which operates Teesport and the Port of Hartlepool, as well as other facilities around the UK . . . .

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