DP World plans to acquire Jebel Ali Free Zone for USD 2.6 billion
Strategic Investment: DP World will be able to offer seamless supply chain services to shippers and shipping lines in the future
DP World Limited (DP World) and its wholly owned subsidiary, DP World FZE, have entered into an agreement in relation to the proposed acquisition of Economic Zones World FZE (EZW), its subsidiaries and subsidiary undertakings from Port and Free Zone World FZE (PFZW) for a total cash consideration of USD 2.6 billion (subject to certain adjustments) including the assumption of net debt at close (USD 859 million as at 30 June 2014).
EZW is a provider of industrial and logistics infrastructure, which comprises five business units: Jebel Ali Free Zone FZE (JAFZ), JAFZA Enterprises FZE, EZW Corporate, Business Center World FZE, and Emerging Business Units. JAFZ, EZW’s primary business unit representing 97 per cent of revenue and operating profit for the year ended 31 December 2013, is a 57 square kilometre modern commercial and industrial logistics park adjacent to DP World’s flagship Jebel Ali port in Dubai. The free zone is an integral component of the supply chain for DP World’s customers at the Jebel Ali port.
Sultan Ahmed Bin Sulayem, Chairman of DP World, commented on the proposed acquisition: “The take over of EZW represents a strategic and commercial opportunity that will benefit our customers as well as our Company. Jebel Ali Port and Free Zone support and drive the growth of Dubai and the wider region of some two billion people. Together, we will be able to offer seamless supply chain services to shippers and shipping lines, linking sea, road and air across the port and the free zone to the new Al Maktoum Airport via the Dubai Logistics Corridor to help them further improve efficiency”
www.dpworld.com
Quelle: LogEastics
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