ING Barings is acting in what is believed to be the biggest ever merger and acquisition deal in the port operators sector.

The investment bank is advising Belgian companies Companie Maritime Belge and Noord Natie on the disposal of their majority stake in Hesse Noord Natie (HNN), a company to be formed by the merger of Hessentie, a wholly owned subsidiary of Companie Maritime Belge and Noord Natie. The stake is being bought by the Port of Singapore Authority (PSA) and values HNN at up to €650m ($605m).