Pontegadea Inversiones, the investment company belonging Spanish billionaire Amancio Ortega (the founder of clothing brand Zara) is acquiring a 49% stake in PD Ports. PD Ports manages 11 terminals in the UK, including some in England’s largest ports such as Felixstowe, Teesport and Hartlepool.
The PD Ports shares were sold by Brookfield Asset Management, which will retain a 51% majority stake. Rail freight plays a significant role in PD Ports’ activities. For example, the company launched a new service in February connecting Teesport and Manchester’s Trafford Park in cooperation with Direct Rail Services.
The financial details of the operations have not yet been disclosed, but it is the first time for Pontegadea with investments of this kind. “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”, said the company’s CEO Frans Calje. The company employs over 1,400 people across its 11 sites in the UK.