• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Saturday, March 6, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home News

AB Ports spurns bid by Goldman Sachs-led consortium

by Sam Allcock
19/06/2017

RelatedPosts

National Governments Keen to Use Blockchain Technology

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

Santander Loses 8771 Million In 2020 After Accounting Adjustment

Ford Lost $ 1.276 Million In 2020 To Covid-19

Load More

LONDON: Britain’s largest ports operator Associated British Ports Plc. rejected an indicative takeover offer of 2.2 billion pounds from a Goldman Sachs-led consortium Wednesday.

The company said in a statement that its board considered the non-binding indicative offer and concluded that it is wholly inadequate.

The offer had been in cash at 730 pence-a-share. AB Ports has large properties, including land used for the port operations. It handles a quarter of Britain’s seaborne trade and has four port operations in the U.S.

British ports have become attractive targets for offshore investors in view of their income sources, large property holdings and improving shipping operations around the world. Recently, Dubai Ports World had bought Peninsular & Oriental Steam Navigation Co., the U.K.’s oldest port company, for $6.8 billion, while an Australian investment fund had annexed PD Ports for 337 million pounds.

Goldman Sachs said it is working with Borealis, the investment vehicle of Ontario pension fund OMERS, and GIC Special Investments, the private equity arm of the Government of Singapore Investment Corporation to bid for AB Ports, which owns and operates 21 U.K. ports, including Hull in northeast England and Plymouth in the southwest. AB Ports also handles car imports at four U.S. ports.

AB Ports had operating profit of 167.6 million pounds in 2005, with the U.S. operations contributing 4.3 million pounds. The company has said its earnings at the U.K. ports are set to accelerate in the second half of 2006 after the opening of two new facilities at the port of Immingham, on the northeast coast of England.

AB Ports shares dropped 14 pence to 717 pence Thursday, which analysts said has been as a result of the stock going ex-dividend.

Previous Post

Half of city academies find way to worst schools list

Next Post

Pig processing may halt in Scotland following strike threat next week

Related Posts

National Governments Keen to Use Blockchain Technology
Finance

National Governments Keen to Use Blockchain Technology

05/03/2021
5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths
News

5 Helpful Tips to Secure Good Marks in CBSE Class 8 Maths

25/02/2021
Santander Loses 8771 Million In 2020 After Accounting Adjustment
News

Santander Loses 8771 Million In 2020 After Accounting Adjustment

09/02/2021
Next Post

Pig processing may halt in Scotland following strike threat next week

N-plant decommissioning cost may reach £70 billion

N-plant decommissioning cost may reach £70 billion

UK budget deficit surpasses EU limit for third successive year

Latest News

Some Important Things to Consider While Buying TV Covers Online

Some Important Things to Consider While Buying TV Covers Online

05/03/2021
5 online side hustles that could boost your income in 2021

5 online side hustles that could boost your income in 2021

05/03/2021
4 Things to know about a luggage storage business

4 Things to know about a luggage storage business

05/03/2021
Impressive Hair Dryers Detailed Guide To Make Your Life Simpler

Impressive Hair Dryers Detailed Guide To Make Your Life Simpler

05/03/2021
How to Accessorise For Your Zoom Meetings

How to Accessorise For Your Zoom Meetings

05/03/2021
National Governments Keen to Use Blockchain Technology

National Governments Keen to Use Blockchain Technology

05/03/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.