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DP World agrees to acquire a majority stake in TIS Container Terminal in the Port of Yuzhny, Ukraine
Dubai, UAE: Thursday, 13 February 2020 - DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny, Ukraine. The transaction value is less than 2% of DP World's NAV and is expected to close in 1H2020 and the acquisition is subject to customary condition precedents, including regulatory approvals.
The port of Yuzhny is a deepwater multipurpose terminal located in the north-west coast of the Black Sea and is ideally situated to serve the strong Ukrainian domestic market, as well as Belarus and other parts of Eastern Europe. The port has unmatched rail and road connectivity with a container capacity of 500k TEU and 6.5mn tonnes of diversified bulk capacity.
This acquisition is in line with DP World's strategy to develop data-driven end-to-end integrated logistics solutions for cargo owners, while also focusing on faster-growing markets and key trade routes. The transaction also complements the existing operations of DP World's P&O Maritime Logistics (POML) business through its joint venture with TIS Group, providing tugging, pilotage and other marine services in several Ukrainian ports.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: "We are delighted to extend our footprint in Ukraine and are excited about the significant growth potential of the terminal. Yuzhny is the best-located port in Ukraine with the most efficient rail connections in the region, and DP World aims to realise the growth potential of the port through optimising the terminal operations using its operational and commercial expertise.
Overall, we believe the addition of the TIS Container Terminal into DP World's global network will strengthen its position as the market-leading terminal of Ukraine. The strategic partnership with TIS Group will enable the terminal to continue growing, further cementing TIS Container Terminal's position as the leading gateway to Ukraine and delivering value for all stakeholders."
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Redwan Ahmed Amin Fikree
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About DP World
We are the leading provider of smart logistics solutions, enabling the flow of trade across the globe. Our comprehensive range of products and services covers every link of the integrated supply chain - from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.
We deliver these services through an interconnected global network of more than 150 operations in over 50 countries across six continents, with a significant presence both in high-growth and mature markets. Wherever we operate, we integrate sustainability and responsible corporate citizenship into our activities, striving for a positive contribution to the economies and communities where we live and work.
Our dedicated, diverse and professional team of more than 50,000 employees from over 120 countries are committed to delivering unrivalled value to our customers and partners. We do this by focussing on mutually beneficial relationships - with governments, shippers, traders, and other stakeholders along the global supply chain - relationships built on a foundation of mutual trust and enduring partnership.
We think ahead, anticipate change and deploy industry-leading technology to deliver the smartest, most efficient and innovative trade solutions, while ensuring a positive and sustainable impact on economies, societies and our planet.
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