IFM Investors snaps up majority stake in U.K.’s largest ports group from CPP Investments, OMERS

IFM Investors, through one of its funds, is to take control of Associated British Ports (ABP), which is the biggest ports group in the U.K. CPP Investments is selling its whole 33.9 percent interest, held since 2015, and OMERS is selling its whole 30 percent interest, held since 2006.

According to the Financial Times, the transaction puts ABP's value above £10 billion. The company operates 19 ports across England, Scotland and Wales. Those ports handle roughly 25 percent of U.K. seaborne trade and serve more than half of the country's offshore wind.