Abu Dhabi Investment Authority (ADIA) has joined the group of bidders chasing a 34% stake in Associated British Ports that could be worth £2 billion (US$2.42) billion, or even more, according to reports.
The sovereign wealth fund is potentially competing with Stonepeak Partners LP and British Columbia Investment Management Corp for the roughly one-third stake in the owner and operator of 21 UK ports.
The stake is being sold by the Canada Pension Plan Investment Board, a Bloomberg report said Tuesday, citing sources familiar with the matter.
A winning bid might not come in the immediate term either, as more potential bidders could yet emerge, the reports said.
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