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Associated British Ports

From Wikipedia, the free encyclopedia

Associated British Ports (ABP)
Private
PredecessorBritish Transport Commission (BTC) (1947)
British Transport Docks Board (BTDB) (1962)
Headquarters
London
,
UK
Number of employees
2,432[1]
Websitewww.abports.co.uk

Associated British Ports Holdings Ltd owns and operates 21 ports in the United Kingdom, managing around 25 per cent of the UK's sea-borne trade. The company's activities cover transport, haulage and terminal operations, ship's agency, dredging and marine consultancy.

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Transcription

Contents

History

Queen Alexandra House, Cardiff Bay
Queen Alexandra House, Cardiff Bay

Ports formerly owned by rail and canal companies were nationalised in 1947 by Clement Attlee's post Second World War Labour government. The commission was split in 1962 by the Transport Act 1962; the British Transport Docks Board (BTDB) was formed in 1962 as a government-owned body to manage various ports throughout Great Britain.[1]

In 1981 the Conservative government of Margaret Thatcher implemented the Transport Act 1981, which provided for the BTDB's privatisation.[2] Because of BTDB's statutory powers as a harbour operator, a straightforward conversion to limited company status was impractical. Instead, BTDB was renamed as Associated British Ports (ABP) and a limited company, Associated British Ports Holdings Ltd, was created, with the same powers in law over ABP as a holding company has over a subsidiary.

In 1983 the British Government allowed the company to become a public limited company quoted on the London Stock Exchange. The company was taken over by a consortium of companies in 2006 and, in August of that year, the company was de-listed from the London Stock Exchange.

In 2002 ABP bought Hams Hall Distribution Park in the West Midlands from E.ON.

In 2006 a consortium led by Goldman Sachs offered £2.795 billion for the company.[3] As of 2010 the consortium (known as 'Admiral') owns the business.[4]

Tugboat "Englishman" from Associated British Ports at the celebrations of the Diamond Jubilee of Elizabeth II on 4 June 2012 at the Humber Bridge, Hessle, East Riding of Yorkshire.
Tugboat "Englishman" from Associated British Ports at the celebrations of the Diamond Jubilee of Elizabeth II on 4 June 2012 at the Humber Bridge, Hessle, East Riding of Yorkshire.

From 2006 until 2015, the company was owned by a consortium consisting of GS Infrastructure Partners, Borealis Infrastructure, GIC, and Prudential.[5] In March 2015, Anchorage Ports LLP, an investment consortium led by the Canadian Pension Plan Investment Board and Hermes Infrastructure, acquired a 33.3% interest in the business. In addition the Kuwait Investment Authority also purchased a 10% interest in the company.

As a result of these transactions the shareholdings in the group holding company as of 2015 were: 33.3% owned by Borealis Infrastructure, 33.3% by Anchorage Ports LLP, 23.3% by Cheyne Walk Investment Pte. Ltd (a nominated investment vehicle of GIC) and 10% by the Kuwait Investment Authority.[6]

Ports

ABPH manages the following ports:

See also

Other Port operators in the UK include:

References

  1. ^ a b Transportation Infrastructure: Associated British Ports Holdings plc. investing.businessweek.com. Retrieved 23 January 2013.
  2. ^ Revised Statute from The UK Statute Law Database: Transport Act 1981 www.opsi.gov.uk. Retrieved 23 January 2013.
  3. ^ £2.795 Billion Takeover Offer for Associated British Ports Holdings plc 21 July 2006 , www.ogier.com. Retrieved 23 January 2013.
  4. ^ Ownership of ABP www.abports.co.uk Archived 10 March 2010 at the Wayback Machine.
  5. ^ "Company History". ABP. Retrieved 8 September 2014.
  6. ^ "Sale of Various Shareholdings in ABP (Jersey) Ltd". Financial Times. RNS. 8 July 2015. Retrieved 19 July 2016.

External links

This page was last edited on 29 December 2018, at 15:24
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