Australian investment firm considers £1 billion bid for UK’s PD Ports

Australian investment company Macquarie is considering to make a £1 billion ($1.13 billion) bid to acquire PD Ports.

Reported by UK national newspaper The Times, Macquarie, based in Sydney and the world’s largest infrastructure manager, has “rekindled” interest in the operator after last year.

In November 2021, Canadian private equity firm Brookfield shelved an auction for PD Ports, following concerns by South Tees Development Corporation (STDC) – an owner of land surrounding Teesport.

READ: In conversation with: PD Ports

Bids in the original auction allegedly reached around £1.3 billion ($1.46 billion).

Headquartered in Middlesborough, PD Ports is the owner of North-East UK’s container hub Teesport, with ports also at Hartlepool, Howden, and Keadby.

The firm also has operations at Felixstowe, Immingham, and the Port of Hull.

In November last year PD Ports signed a new deal with a commercial drone operator heliguy to boost efficiencies around Teesport and the River Tees.

Also last year PD Ports launched its new Port Community System (PCS), alongside the help of European partner the Port of Rotterdam.