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DP World expands its operations in Australia: DP World Australia, a subsidiary of Dubai-based port operator DP World, is acquiring 100% of port-to-door logistics services provider Silk Logistics Holdings, according to a statement. DP World signed a binding scheme implementation deed with a cash offer set at AUD 2.14 (c. 5.16) per share, valuing the company at AUD 174.5 mn (c. AED 421.3 mn). The transaction, which is awaiting Silk Logistics shareholder approval, is expected to be completed in 1H 2025.
The game plan: DP World will uptake Silk Logistics’ major business segments in port logistics and contract logistics, which specialize in wharf cartage services between Australia’s major ports, warehousing, and multimodal distribution solutions. This includes acquiring the firm’s Australian operation portfolio, including 21 logistics hubs and 25 warehousing sites across five Australian states.
About DP World Australia: The firm operates four container terminals and three container parks in Sydney, Brisbane, Melbourne and Fremantle, in addition to warehouses and inland distribution centers.
DP World is on an M&A roll: DP World fully acquired Hong Kong-based logistics firm Cargo Services Far East in September. DP World also entered into a strategic merger and formed a joint venture, DP World Evyap, with Turkey’s Evyap Group in July for the management of two major ports in Turkey’s Marmara region.
All part of a wider global expansion plan: DP World is reportedly looking to invest as much as AED 1.6 bn in ports across the Philippines. It has been eyeing potential investments for a logistics hub and an industrial park in the Philippines since earlier this year. The firm committed GBP 1 bn (c. USD 1.3 bn) in investments for the DP World-operated London Gateway port last month. It also inked an MoU with officials from Uzbekistan to develop freezones and logistics centers in the country in September. The firm also plans to shell out USD 3 bn on new port infrastructure in Africa over the next three to five years.
