EU Gives Green Light to DP World Purchase
DP World’s acquisition of feeder services operator Unifeeder has been approved by the European Commission, which ruled that the deal does not violate the EU’s competition rules.
The Dubai-based terminal operator bought Unifeeder in August 2018 for approximately US $764 million from the Nordic Capital Fund VIII.
At the time DPW World said Unifeeder would complement its existing business and reduce inefficiencies, at the same time as providing growth opportunities.
Unifeeder serves deep-sea container hubs and the intra-Europe container freight market. Furthermore, its feeder service is connected to more than 100 ports worldwide.
A statement from the European Commission said: “The Commission concluded that the proposed acquisition would raise no competition concerns as it would have a limited impact on the structure of the markets for the provision of container terminals services and of short-sea shipping services.
“The transaction was examined under the normal merger review procedure.
DP World also commented: “DP World PLC is pleased to advise that it has closed the transaction to acquire 100% of Unifeeder Group from Nordic Capital Fund VIII and certain minority shareholders”.