Media ININ Economy We Trust
MEDIA IN, Dubai, August 7, 2018 (WAM)
Dubai Ports World (DP World) today announced that it has acquired 100% of Unified Group, the largest logistics network for the operation of medium-sized container ships and short-haul coastal shipping vessels in Europe. The value of the transaction is € 660 million – the value of the institution’s “financial value and net debt”, which equals $ 762.8 million based on the exchange rate of the euro against the US dollar – and will be financed from the financial resources available in the company’s budget. The transaction is expected to be closed in the fourth quarter of 2018 subject to obtaining the necessary approvals from the competent regulators and the acquisition will return cumulative revenues in the first fiscal year following completion. The acquisition of UNEVIDER will enhance DP World’s presence in the global supply chain, expand its offerings and services to shipping companies and cargo owners, as well as increase the efficiency and competitiveness of the global supply chain, leading to the integration of existing Unified operations with existing group businesses. Promoting growth opportunities. Unibeder, based in Aarhus, Denmark, operates the largest network of medium-sized container ships and short-term coastal shipping in Europe, serving both deep water container handling ports around the world and the container shipping market within Europe. Sultan Bin Ahmed Bin Sulayem, Chairman and CEO of DP World, said that the incorporation of the Unifider brand into the DP World portfolio supports the Group’s strategy to diversify its business and growth in the complementary sectors, enhance its service offerings and products and consolidate its role in the global supply chain As a catalyst for trade and a source of knowledge and accumulated experience and innovative solutions that characterize the UAE in general and Dubai, especially under the leadership and aspirations to consolidate the UAE as an active participant in moving the global economic growth.
