Macquarie eyes PD Ports

PD Ports’ owner, private equity firm Brookfield, shut down an auction of the company last year owing to a legal row with the owner of land near Teesport.

According to The Times, should Macquarie submit a bid, it would be around £1bn, lower than the £1.3bn initial auction bids are said to have reached.

Canadian Brookfield had been hoping to seal a £2bn deal for the business, according to the newspaper’s sources in the City.

It comes as the economic situation has worsened in the ten months since the initial auction, with PD Ports reportedly struggling with performance and a series of strikes blighting operations at Felixstowe.