Adani Ports is reportedly weighing a bid for Associated British Ports, the UK’s largest port operator, in what could be its biggest deal.

The interest was first reported by different sources, both citing people familiar with the matter. ABP runs 21 ports across England, Scotland and Wales, including Immingham, the country’s biggest port by tonnage, and Southampton, which alone handles around £40 billion worth of exports every year.

Between them, these ports account for close to a quarter of the UK’s entire seaborne trade. In 2025, ABP moved 42.5 million tonnes of bulk cargo along with another 3.1 million units of containerised and roll on roll off cargo, bringing in revenue of £819.8 million and an operating profit of £586.5 million.

The stake up for grabs, roughly 63.9%, currently sits with two Canadian pension funds. The Canada Pension Plan Investment Board holds 30%, while the Ontario Municipal Employees Retirement System holds 33.88%.

Both have already brought in bankers to run the sale. The remaining ownership is split between Singapore’s GIC, Kuwait’s Wren House Infrastructure, and Anchorage Ports LLP, which is backed by the Hermes Infrastructure Fund.

Reports peg ABP’s overall valuation at more than £10 billion. When asked directly, Adani Ports didn’t confirm or deny anything.

In an exchange filing, the company said it doesn’t comment on market speculation, though it added that it “continuously evaluates opportunities” that fit its long term strategy.

Adani Ports is already present outside of India. It has activities in Sri Lanka, Tanzania, and Australia in addition to a 70% share in Israel’s Haifa Port.

Domestically, it runs 15 ports with a combined capacity of about 653 million tonnes, and it’s targeting 1 billion tonnes of cargo handled annually by 2030.

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