UK-based PD Ports has been taken over by Canada-based Brookfield Asset Management.

The sale was part of a transaction with Babcock & Brown Infrastructure (BBI) in which Brookfield, as the cornerstone investor, led a recapitalisation of BBI, PD said in a statement.

To complete the purchase of PD Ports, Brookfield formed a new holding company Brookfield Ports.

BBI was the previous owner of PD Ports from early 2006 until the day of the agreement.