ABP Taken Over

Pompeyfan
14th June 2006, 18:40
Associated British Ports (ABP) which owns 21 UK ports including Southampton has agreed to be taken over for 2.5bn by a consortium which includes investment bank Goldman Sachs. Another British port owner taken over. Do we have anything left to sell?!. David

Jeff Egan
14th June 2006, 19:00
Who owned ABP before the take over, any idea?

david smith
14th June 2006, 19:01
Just wait and see what develops. This may not be the final offer and the market is expecting counter bids, that is confirmed in the closing price - a lot higher than the 810p offered by Golmas Sachs et al.
Analysts are expecting an offer from a German investment company - that may raise some shackles!
Also some expect the ports to be sold for around 10 per share due to its property portfolio.
As an employee I am very concerned, but the board and shareholders will decide in the end.
Abp was the remants of the British Transport Board

Ron Stringer
14th June 2006, 19:35
Who owned ABP before the take over, any idea?
The poor bloody British taxpayer, that's who owned the British Transport Docks Board until they were denationalised.

The Board was set up in 1963 with the ports being hived off from the railways in a desperate effort to prevent the UK's docks infrastructure sliding into total decay, following years of under(non)-investment. The brief was to make the docks pay or dispose of them to the highest bidder.

To the credit of the management at the time, the BTDB rapidly became one of the very few nationalised industries to achieve, and to remain in, profitability throughout its existence. They modernised the ports, invested (our money) heavily in the infrastructure and equipment, made very wise investments in both property and land for expansion, all against fierce opposition from government. Their very success made them a target for privatisation and Associated British Ports was created.

Now it is being sold off to foreign buyers, who I am sure will have the best interests of British taxpayers and shippers at heart. I look forward to an era of ever-increasing investment and minimal dividends to shareholders.

There go those flying pigs again.

Ron

Jeff Egan
14th June 2006, 19:58
Ron, I had an idea of the history but I meant who is the majority share holder at the moment.

david smith
14th June 2006, 20:41
ABP is owned by the shareholders, there are no major institutions who own the company but after massive sharebuying today anything can happen.