Goldman nears deal on British ports

LONDON - A consortium including Goldman Sachs may agree to a £2.5 billion ($7.3 billion) deal to acquire Associated British Ports as soon as this week, sources said yesterday.

The Goldman Sachs consortium hopes to reach agreement with AB Ports on a bid of 810p per share by the end of the week, the sources said, adding that the deal could yet fall apart.

Goldman Sachs is under pressure to conclude a deal after losing out last week on a £10 billion offer for UK airports operator BAA to a rival consortium led by Spain's Ferrovial.

Port operators have become attractive targets due to their stable income streams, large property portfolios and buoyant shipping markets on the back of growth in Chinese trade.

- REUTERS