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Brookfield Sells Stake in PD Ports to Billionaire Founder of Spain’s Zara

UK ports
PD Ports oversees 12 miles of the River Tees and has a total of 11 locations in the UK (Brookfield)

Published Jul 23, 2025 6:30 PM by The Maritime Executive


Canadian investment manager Brookfield Asset Management has agreed to sell a 49 percent stake in the ownership of UK ports and logistics company PD Ports to an investment company controlled by Spain’s Amancio Ortega, the owner of brands including Zara, Pull & Bear, and Massimo Dutti. PD Ports confirmed the deal while reporting that Brookfield will remain invested in the business, and as a long-term shareholder, will work closely with the new investor Pontegadea to support the continued growth of PD Ports.

The company was established in 1992 as a private business as part of the UK’s efforts to reduce government holdings. It is the authority responsible for the River Tees, where it oversees navigation and operations. In total, it has 11 locations in the UK, including Teesport, Hartlepool, a cluster around the River Humber, Felixstowe, Thames, and the Isle of Wight. 

Brookfield became an investor in the company and, in November 2009, after a series of deals, took ownership of PD Ports. The companies report under Brookfield’s ownership, PD Ports has repositioned itself from focusing primarily on coal, oil, and steel, to a diversified revenue base that now includes sustainable renewable energy sources, agribulk, and containers.

Pontegadea Group was created in 2001, and it is today an investment group focused on sectors ranging from real estate to energy, infrastructure, and retail. 

According to the company, this transaction, a further step for Pontegadea’s global strategy of investment diversification, consolidates its commitment to invest in innovative infrastructures with solid partners of international renown. Pontegadea has significant experience working with scaled businesses, holding stakes in companies such as Inditex, Enagás, REN, Redeia, and Q-Park.

Antonio Ortega opened the first Zara store in 1975 and built a fashion empire under the Inditex group. After announcing his retirement in 2011, he expanded his real estate investments and was briefly reported to be the richest person in the world. Forbes estimated his net worth in 2024 at over $100 billion.

Brookfield had been looking for an investor as it works to reshape its portfolio. Reports said it had briefly explored the sale of PD Ports in 2021. Media accounts said it was seeking as much as £2 billion for the company, but the offers were between £1.1 and 1.4 billion.

Peel Ports, which is another large UK port operator also created in a 1992 privatization, was reportedly in the running to acquire PD Ports. Reports said it withdrew in April, but several other investment managers were thought to be exploring the company, while rumors said Pontegadea was exploring the investment.