DP World has purchased P&O Ferries, the holding company of P&O Ferries and P&O Ferrymasters, in a deal valued at approximately USD421 million.
P&O Ferries operates a fleet of 21 ro-ro vessels, with services calling at 11 different European ports, while P&O Ferrymasters provides logistics services at 19 European locations.
The transaction is subject to customary completion conditions and is expected to close in the first half of 2019.
In 2006, DP World acquired the UK-based P&O Group. At the height of 2008 financial crisis, it was forced to sell a number of divisions, including P&O Ferries. Sultan Ahmed Bin Sulayem, group chairman and ceo at DP World, said he was ”pleased to announce the return of P&O Ferries back into the DP World family”.
DP World also acquired 100 percent of Norway’s Unifeeder at the end of 2018 in a EUR660 million (USD760 million) deal.