Goldman Sachs in big port sale


Goldman Sachs Group has begun the process of selling its stake in Associated British Port Holdings (ABP) – a company that runs many of the UK's ports.

Following a bidding war with Australia's Macquarie Bank, a consortium consisting of Goldman Sachs, Borealis, GIC, and Prudential bought ABP for almost US$4.5 billion in 2006.

According to ABP, who operate 21 ports around the U.K: “The company does not anticipate that this will result in any changes at an operational level.”

Canadian fund Borealis Infrastructure Management and Singapore's GIC Special Investments each own a third of the company.

ABP are currently in dispute over the development of a US$700 million marine energy park in Humber, north-east England, with rival developer Able.

ABP have objected to an order of 5ha of its land with fears that this could have a “potentially disastrous blow” to their plans of building a deepwater jetty on the Humber.

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