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One of the world’s biggest investment firms is mulling a £1 billion bid for PD Ports, a logistics empire spanning the strike-plagued port of Felixstowe in the south to Teesport in the northeast.
Australian powerhouse Macquarie is said to have rekindled its interest after PD Ports’ owner, the Canadian private equity giant Brookfield, halted an auction of the business in November amid a legal row with the South Tees Development Corporation (STDC), which owns the land surrounding Teesport.
Bids in the original auction are said to have reached about £1.3 billion, but the economic backdrop, financing environment and performance of PD Ports have deteriorated in the ensuing ten months. Brookfield was originally seeking £2 billion for the business, but City sources said that if Macquarie
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