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Major investment welcomed
by Peel Ports

For Immediate Release - 06 November, 2006

Peel Ports, the operators of Medway Ports and other major ports in the North West of England and Scotland, have welcomed a multi-million pound investment from RREEF Infrastructure as the catalyst for a dynamic, high-growth future.

With an annual turnover of £430 million and annual earnings in excess of £100 million, Peel Ports is the UK’s second-largest ports group and one of the country’s most significant transport-related companies.

It operates key port facilities on the Medway, the Mersey, the Manchester Ship Canal, the Clyde in Scotland, and in Dublin and Belfast.

RREEF is the real estate asset and infrastructure management arm of Deutsche Asset Management, the global investment management business of Deutsche Bank, with a range of long-term investments in real estate and infrastructure assets worldwide.

Tom Allison, chief executive of Peel Ports, described the deal as "one of the most significant ever seen in the UK ports sector.

"This is overwhelmingly good news for Peel Ports, for our customers and for our people. The combination of one of Europe's largest port operators and a global financial institution such as Deutsche Bank creates a compelling and powerful partnership.

"We’re confident that we can realise a range of tremendous growth opportunities and are committed to expanding the business. This deal will help accelerate those plans."

A core element of Peel Holdings, Peel Ports has over 2,200 employees across 14 sites and handles more than 63 million tonnes of cargo a year. As well as its strategically important port locations, the group also operates short sea shipping lines serving Northern Europe, the North Sea and the Irish Sea.

It also controls the UK's largest port consultancy with contracts across the globe and haulage/logistics operations covering Britain and Ireland.

Tom Allison said: "It is no secret that a number of financial institutions and investors have become increasingly focussed upon the ports sector in recent months. It was clear from the outset of our discussions several months ago that we and RREEF share common ambitions, determination and values."

John McCarthy, head of RREEF Infrastructure Europe said: "We are very excited to be making the investment in Peel Ports which is consistent with the partnership model that RREEF is looking to apply in the European marketplace."

Information on Peel Ports

Peel Ports is Britain's second largest port group handling more than 63 million tonnes of cargo a year. The Group serves the whole of the UK through Clydeport in Scotland, the Port of Liverpool, Manchester Ship Canal and Heysham Port in the North West of England and Medway Ports in the South East. Its other interests include port terminals in Ireland and Wales. It operates short sea shipping lines serving Northern Europe, the North Sea and Irish Sea, Britain’s largest port consultancy with contracts across the globe and haulage/logistics operations covering Britain and Ireland.

Information on Peel

Peel is a large private group of companies with assets valued at over £4.5 billion. Its main business areas include:

  • Peel Ports
  • Peel Airports – owner and operator of regional airports including Liverpool John Lennon Airport, Robin Hood Airport and Durham Tees Valley airport
  • Property investment – ownership and management of a wide range of investment property, across the retail, industrial, commercial and leisure sectors including The Trafford Centre, the UK's premier and award winning leisure and retail centre
  • Energy and environmental – including development of some of the UK's largest renewable energy projects in wind and wave power
  • Aggregates, minerals and waste – expertise in quarrying and minerals extraction and provision of substantial infrastructure for waste management
  • Land regeneration – expertise and a long history of significant long term regeneration with examples including the Salford and Castlefield areas in Manchester.

About RREEF Infrastructure

With more than €1.9 billion in assets under management, RREEF Infrastructure has been investing in infrastructure assets within the transport, communications and utilities sectors for 12 years. It also targets infrastructure investments in other areas considered specialist sectors, including forestry, social infrastructure and corporate operations such as bulk storage. The RREEF infrastructure team holds over 40 years combined infrastructure experience, gained through involvement in transactions across all major infrastructure sectors, including landmark infrastructure developments such as the privatisation of Melbourne Airport and the acquisition of Northern Gas Network in the United Kingdom.

About RREEF

RREEF is the real estate and infrastructure investment management arm of Deutsche Asset Management, the global investment management business of Deutsche Bank. RREEF acquires and manages investments in commercial and residential property, real estate securities, and infrastructure investments including energy, utilities and transportation assets on behalf of its institutional and private clients worldwide. Its product offering is global and comprehensive, including core, value-enhanced and high yield property investments as well as investments in publicly traded real estate securities. Headquartered in New York, RREEF employs more than 2,000 real estate and infrastructure professionals in 17 cities around the world. The combined group has over €53 billion in assets under management worldwide as of 30th September 2006. www.rreef.com

Press Enquiries:

  • Alex Barr, Peel Ports: Tel +44 141 333 9585/07962 135467
  • Louise Pancott, RREEF Press Officer: Tel: +44 207 545 7790
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