DP World acquires P&O Ferrymasters
DP World has acquired the holding company of P&O Ferries and P&O Ferrymasters for GBP 322 million. The transaction is subject to customary completion conditions and is expected to close in H1/2019.
Sultan Ahmed Bin Sulayem, group chairman and CEO, 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 an integrated logistics provider into our global portfolio.
Importantly, P&O Ferries provides efficient European freight connectivity that builds 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." (mw)