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Market Chatter: Apollo, KKR Said to be Finalists for Majority Stake in UK's Biggest Port Operator

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Apollo Global Management (APO), KKR (KKR) and IFM Investors are the finalists for a majority stake in Associated British Ports, the UK's largest port operator, Bloomberg reported Tuesday, citing people familiar with the matter.

Canada Pension Plan Investment Board and Omers Administration are looking to sell their combined 64% stake in the business in a deal that values AB Ports at 10 billion British pounds ($13.6 billion), the report said, citing the people.

The final round of bidding is ongoing and there is no guarantee that a deal will be reached, the people reportedly told Bloomberg.

Apollo, KKR, IFM and AB Ports didn't immediately reply to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $131.51, Change: $-1.28, Percent Change: -0.96%

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