CPP Investments, OMERS selling Associated British Ports stakes

TORONTO — The Canada Pension Plan Investment Board and OMERS have signed a deal to sell their entire stakes in Associated British Ports to IFM Investors.

Financial terms of the sale were not disclosed.

ABP is Britain's largest port operator with 19 ports in England, Scotland and Wales. CPP Investments holds a 33.9 per cent interest in ABP, while OMERS owns 30 per cent.

IFM Investors is a global asset manager, owned by Australian pension funds and British pension fund Nest.

— The Canadian Press