Pontegadea Inversiones, the investment firm of Zara founder Amancio Ortega, has agreed to purchase a 49 per cent stake in PD Ports from Brookfield Asset Management.
Brookfield will remain a shareholder and partner with Pontegadea to support PD Ports’ ongoing development and expansion.
PD Ports is a critical economic driver in the Teesside region, contributing £1.4 billion annually ($1.8 billion) to the local economy and supporting around 22,000 jobs across the wider supply chain.
The company directly employs more than 1,400 people at its 11 UK sites, including Teesport and Hartlepool.
As the Statutory Harbour Authority for the River Tees, the company is responsible for ensuring the river remains safe and navigable, underpinning regional economic activity and infrastructure.
Frans Calje, CEO of PD Ports, said: “This deal signals a bold new chapter for PD Ports – one that builds on our proud heritage and sets a confident course for the future. We look forward to working with our new shareholder to drive the continued growth of our business.
“Our ability to attract a high-quality investor is a powerful endorsement of the business, its people and its long-term vision. While we have successful operations around the UK – including Groveport, Felixstowe and the Isle of Wight – we are firmly anchored in Teesside and will continue to make targeted investments in our sites and our operations here and around the UK.”
No financial details of the transaction were disclosed. The deal is subject to regulatory approval.
