The ports industry today woke up to its second major takeover in 24 hours when North East-based operator PD Ports accepted a £246m offer.
The group, whose PD Teesport site is Britain’s second-largest port by volume, is being bought by an alliance of private equity group 3i and Australian financial services firm Challenger.
The deal follows the £3.3bn takeover of ports and ferries group P&O by rival Dubai Ports World, which was announced to the City yesterday.
References: EGi News 30/11/05
