Malaysian pension fund tipped to buy stake in British port operator

Kuala Lumpur: Malaysia’s Employees Provident Fund (EPF) has been tipped to buy a stake in one of the UK’s largest port operators, Associated British Ports Holdings plc (ABP), according to the Wall Street Journal (WSJ).

EPF is ready to spend up to $2bn for a 33% stake in the port from Goldman Sachs’ GS Infrastructure Partners and Prudential plc.

Goldman Sachs and Prudential were part of a consortium that took over ABP for $4.47bn eight years ago.

ABP owns and operates 21 ports and handles about a quarter of the UK’s seaborne trade.

EPF has declined to comment on the speculation.  [03/11/14]

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