Adani may bid for Britain’s biggest ports group: report

Adani Ports and Special Economic Zone Ltd is weighing a bid for the controlling stake in Associated British Ports (ABP), the UK’s largest port operator, The Economic Times reported on Wednesday, 29 July.

The Financial Times subsequently reported, citing three people familiar with the discussions, that Gautam Adani’s group was assessing an offer and could bring in a partner for any transaction.

The discussions remain at an early stage and may not lead to a bid, according to the FT.

Canada Pension Plan Investment Board owns 33.88% of ABP, while the Ontario Municipal Employees Retirement System holds 30%, according to ABP’s latest accounts. The two funds hired Morgan Stanley to explore a sale of their combined 63.88% stake and are seeking a valuation of more than £10 billion, or about $13.3 billion, the FT reported in February.

Federated Hermes, which owns 6.12%, could also sell its holding. Singapore sovereign wealth fund GIC owns 20%, while the Kuwait Investment Authority’s Wren House Infrastructure holds 10%.

ABP’s network includes Southampton, Britain’s largest export port, and Immingham, its largest port by tonnage. The company handles roughly a quarter of the UK’s seaborne trade, worth about £157 billion annually, according to company disclosures.

A purchase would mark the Adani Group’s first investment in the UK and significantly expand the overseas operations of Adani Ports and Special Economic Zone. The company currently operates international ports in Australia, Sri Lanka, Israel and Tanzania alongside 15 ports and terminals in India.

Adani Ports handled 500.8 million tons of cargo in the year ended March, up 11% from the previous year. Revenue rose 25% to ₹38,736 crore and net profit increased 16% to ₹12,782 crore, according to its latest annual results.

Its international ports generated revenue of ₹4,539 crore, or about $475 million, during the year, an increase of 34%, while EBITDA rose 180%. The company is targeting one billion tons of annual cargo by the end of 2030 and has said it remains open to selective acquisitions.

ABP reported a 4.6% rise in revenue to £819.8 million in 2025. Earnings before interest, tax, depreciation and amortization increased to £473.7 million from £430.1 million, its annual report showed.

Adani Ports handled 500.8 million metric tons of cargo in the year ended March, up 11% from the previous year. Revenue rose 25% to ₹38,736 crore, or about $4.05 billion, while net profit increased 16% to ₹12,782 crore, or about $1.34 billion, according to its latest annual results.