Categories: Business, Hartlepool, PD Ports, TeesportPublished On: 02.12.2021194 words1 min read

Sale of Teesport operator called off by Canadian asset management company

Teesport (Image: Stuart Boulton)

Brookfield Asset Management said PD Ports ‘continues to have exceptional long-term growth prospects’

The sale of one of the UK’s biggest ports operators has been called off by a Canadian asset management company.

Brookfield Asset Management has abandoned the sale of PD Ports, which owns 12 ports including Teesport.

The firm, based in Toronto, put it on the market in the summer but has now pulled out of a sale.

A Brookfield spokesperson told Teesside Live: “”PD Ports is a great business that has performed very well under Brookfield’s ownership and continues to have exceptional long-term growth prospects.

“The recent process has strengthened our conviction in the business, and we have made the decision to remain invested in PD Ports rather than sell the asset.

“We look forward to continued partnership with the management team as they execute the growth strategy for the business.”

According to The Guardian, Tees Valley Major Ben Houchen had been bidding for the ports company on behalf of the South Tees Development Corporation (STDC) . . . . .

. . . . . continue reading the article on the Teesside Live website here

Sale of Teesport operator called off
Sale of Teesport operator called off