Success of L&G-backed bid for PD Ports would boost mayor Ben Houchen’s ambitions in north-east England
A group of powerful investors are preparing a £2bn takeover of one of the UK’s largest port operators in a move seen by some as a vote of confidence in the government’s levelling-up agenda.
The South Tees Development Corporation, which is run by the Tees Valley combined authority and headed by the local mayor, Ben Houchen, has reportedly been preparing a bid for PD Ports, which owns 12 ports and distribution sites across the UK.
