ABP fate sealed as LSE delisting is finalised
Associated British Ports (ABP), one of the first port companies to be floated on the stock exchange, has delisted. The move seals the formal takeover of the UK group by Goldman Sachs-led consortium, Admiral Acquisitions UK, who paid £ 2.79bn for company.
ABP is the UK’s leading ports business, providing port facilities and services to shippers and cargo owners. The group owns 21 ports in the UK, including Southampton.
ABP has traded on the London Stock Exchange since 1983, years before port stocks became hot property.
Bo Lerenius, chief executive from 1999, staved off several unwelcome takeover approaches, but Admiral’s last bid proved sufficient enough to force the sale.
ABP shares ceased trading at 0800 hrs on August 16, with shareholders receiving 910p per share, up from Admiral’s original offer of 810p.
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