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DP World closes AED 3bn acquisition deal

DP World closes AED 3bn acquisition deal
“We are excited to join the DP World Group"
DP World
DPW
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Dubai - Mubasher: DP World has announced the full acquisition of Denmark's Unifeeder Group in consideration of EUR 660 million (AED 2.81 billion) from Capital Fund VIII and a group of minority shareholders.

The deal – currently subject to regulatory approvals – is expected to add to the company’s earnings within the first year following the acquisition, DP World said in a statement released on Tuesday.

“We are delighted to add the Unifeeder brand under the DP World umbrella, which supports our strategy to grow in complementary sectors, strengthen our product offering,”  DP World Group chairman and CEO Sultan Ahmed Bin Sulayem commented.

Unifeeder’s current operations are complementary to DP World’s existing activities, which offers the UAE-based global enabler “future growth opportunities”, the company stated.

“We are excited to join the DP World Group as we believe that Unifeeder will benefit from the Group’s significant expertise in the wider supply chain and excellent relationships with shipping lines and end cargo owners,” Unifeeder’s CEO Jesper Kristensen said.