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DP World completes Unifeeder purchase
[ December 7, 2018 // Chris ]DP World has completed its acquisition of 100% of shortsea operator Unifeeder Group which operates a network to about 100 ports in Northern Europe, in a deal valued at €660 million.
DPW group chairman and chief executive Sultan Ahmed Bin Sulayem said: “This transaction is very relevant to our business and provides future growth opportunities, especially that feedering and shortsea/regional transport with smaller vessels have become more important for shipping lines with the use of larger vessels by shipping alliances. Both DP World and Unifeeder businesses operate under the same common-user principle, which is a strong value proposition to our customers and we look forward to joining our expertise to make the global supply chain more efficient and cost effective.
“Our core business is and will continue to be the container terminal, but this acquisition fits with our strategy to diversify our revenues and extend our core business to play a wider role in the global supply chain and connect directly with cargo owners and aggregators of demand, ultimately improving the quality of our earnings and driving returns.”