The Spanish tycoon Amancio Ortega, founder of the fashion giant Zara, recently made his maiden move in the field of maritime transport.
Specifically, according to a Financial Times report, Amancio Ortega agreed with Brookfield Asset Management to acquire a 49% stake in the UK port management and logistics company PD Ports. This is an investment valued at approximately $2.7 billion.
The acquisition will be carried out through the Spanish billionaire’s investment arm, Pontegadea Inversiones, which focuses on investments in real estate, renewable energy, and telecommunications. At the same time, under the agreement, Brookfield Asset Management will retain control of the ports through its infrastructure fund while continuing to invest in PD Ports as a long-term shareholder.
It is worth noting that PD Ports manages eleven ports across the United Kingdom, including Teesport and Hartlepool.
