ET Exclusive: Adani eyes controlling stake in UK's Associated British Ports

Mumbai: Adani Ports and Special Economic Zone (APSEZ), India's biggest private port operator, is weighing a bid for Associated British Ports (ABP), the largest operator of such facilities in the UK, said people with knowledge of the matter.Tycoon Gautam Adani is looking to expand his port empire with the aim of becoming the world's biggest transport utility by 2031.Up for grabs is a controlling stake of about 63.9%, which belongs to two Canadian pension funds, both of which have hired bankers to sell their stakes. Canada Pension Plan Investment Board (CPPIB) holds 30% and Ontario Municipal Employees Retirement System (OMERS) has 33.88% of ABP, which owns and operates 21 strategically located ports in England, Scotland and Whales. 132693501These include Immingham, the UK's largest port by tonnage, and Southampton, the nation's number one export port, which handles £40 billion of the country's exports annually.