DP World Acquires European Giant

DP_World_PO_1280_800_84_s_c1
Twitter
Facebook
LinkedIn
Email

DP World has announced its acquisition of P&O Ferries, the holding company of P&O Ferries and P&O Ferrymasters, for a purchase consideration of US$421 million.

P&O Ferries, which operates across multiple countries in Europe, consists of a “market leading” roll-on, roll-off (ro-ro) ferry operation and a transportation solutions provider.

According to a statement, P&O Ferries operates a fleet of 21 vessels across 11 different ports, while P&O Ferrymasters provides logistics services in 19 European locations.

Rashid Abdullah, DP World, discusses effective ways to link the global supply chain in a recent Port Technology technical paper

In addition to this, P&O Ferries handles over 2.5 million freight units every year, accounting for 75% of P&O’s overall group revenue.

The acquisition, which is still pending customary completion conditions, is expected to increase earnings from the first full year of consolidation, as well as meeting DP World’s return targets.

 

 

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “We are pleased to announce the return of P&O Ferries back into the DP World family.

“P&O Ferries is a strong, recognisable brand and adds a best-in-class integrated logistics provider into our global portfolio. Importantly, P&O Ferries provides efficient European freight connectivity building on last year’s acquisition of Unifeeder.

“This transaction is in line with our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler.”

 

 

The chairman also asserted how DP World aims to drive further value to customers of P&O Ferries by increasing efficiencies and offering new solutions.

“Overall the transaction offers compelling value strategically and financially, and we look forward to P&O Ferries contributing to driving shareholder value in the coming years.”

Read more:

Twitter
Facebook
LinkedIn
Email

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.
FREE

Most Popular Stories

Top 5 Ports In The UK
Five busiest ports in the US
INFORM Video: Experts highlight AI’s flexibility
Digital perception radar technology touted as next smart port innovation
Yokohama tops table in new Global Container Port Performance Index
Establishing data for onshore-power demand ‘crucial precondition’ for adoption says ESPO

Supplier Directory

Find out how to get listed

Webinar Series

Find out how to attend

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.