#ports - A German stakeholder of a major UK ports group is considering selling its part of the business.
As the UK newspaper The Times reports, Deutsche Bank is considering selling part of its stake in Peel Ports Group, Britain’s second-biggest port operator, in a deal that could value the company at £4bn.
DWS, the German bank’s asset management arm, is understood to be mulling the sale of a 10%-15% stake in Peel Ports, which runs the Port of Liverpool.
DWS has owned 49% of Peel since 2006. It bought the share from property tycoon John Whittaker in a deal that at the time valued the business at about £1.6bn.
Peel handles more than 60m tons of cargo a year and about 13% of Britain’s maritime traffic, putting it second behind Associated British Ports (ABP), the biggest port operator.
It has spent hundreds of millions of pounds upgrading Liverpool with another deep-sea container terminal, Liverpool2.
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Afloat adds Peel Ports other port run and related facilities are located in Dublin, Clydeport, Great Yarmouth, Heysham, London (Medway) and the Manchester ship canal.
