PSP sells minority stake in Forth Ports
Canada’s Public Sector Pension Investment Board, which bought out its co-shareholder in Forth Ports last week, has now sold a minority stake in the business to a number of long term investors including GLIL Infrastructure, First State Super, and Construction and Building Unions Superannuation.
Forth Ports owns eight commercial ports including Tilbury, Grangemouth, Rosyth and Dundee. It is building a new terminal Tilbury 2 next to the existing site on the Thames.
Charles Hammond, group chief executive of Forth Ports, said: “This now gives the Group a long term stable shareholding base which will help and support us in implementing our growth strategy. We look forward to continuing our long and stable association with PSP Investments, while at the same time commencing a new partnership with First State Super, Cbus and GLIL.”