Eyeing foreign shores? Adani Ports considers controlling stake in UK’s Associated British Ports

Adani Ports and Special Economic Zone (APSEZ) is reportedly considering a bid for Associated British Ports (ABP), the largest port operator in the UK, as billionaire Gautam Adani seeks to expand his global ports business, according to sources familiar with the matter.

According to a report in The Economic Times, the proposed acquisition would involve a controlling 63.9% stake in ABP currently held by two Canadian pension funds. The Canada Pension Plan Investment Board (CPPIB) owns 30%, while the Ontario Municipal Employees Retirement System (OMERS) holds 33.88%. Both investors have appointed bankers to manage the sale of their stakes.

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A company spokesperson told the daily, "We continuously evaluate opportunities that align with our long-term strategy and create sustainable value for all stakeholders. As a matter of policy, we do not comment on market speculation or rumours."

ABP owns and operates 21 ports across England, Scotland and Wales, including Immingham, the UK's largest port by tonnage, and Southampton, the leading export port handling £40 billion worth of exports annually. The company also provides operations and maintenance services for over half of the UK's offshore wind sector.

Other shareholders in ABP include Singapore's sovereign wealth fund GIC with 20%, Wren House Infrastructure, owned by the Kuwait Investment Authority, with 10%, and Anchorage Ports LLP, owned by Hermes Infrastructure Fund.

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ABP's ports manage about a quarter of the UK's seaborne trade. In 2025, it handled 42.5 million tonnes of bulk cargo and 3.1 million units of container and roll-on, roll-off cargo. The company reported revenue of £819.8 million and an operating profit of £586.5 million.

A significant part of ABP's revenue comes from long-term customer contracts that guarantee minimum revenue regardless of cargo volumes. As the statutory harbour and river authority for most of its ports, it also earns substantial income from pilotage and conservancy services, which is of interest to APSEZ, the report said.

APSEZ currently operates 15 multi-commodity ports in India with a cargo handling capacity of 653 million tonnes, and four international ports in Israel, Tanzania, Sri Lanka and Australia with a combined capacity of 144 million tonnes. In FY26, the company handled 501 million tonnes of cargo.

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The company aims to increase its cargo handling capacity to 1 billion tonnes by 2030 and handle 850 million tonnes of cargo by then. It has also planned to invest up to ₹1 lakh crore over the next five years to expand capacity, excluding any strategic mergers and acquisitions. As of March end, APSEZ had cash and cash equivalents of ₹12,193 crore and gross debt of ₹55,103 crore.