DP World acquires majority stake in DP World Australia
DUBAI, United Arab Emirates (AP) — Dubai-based port operator DP World says it has acquired additional assets in DP World Australia from a range of financial investors, giving the firm a majority stake in its Australian terminals.
The percentage of what has been acquired is still being finalized and subject to regulatory approval.
DP World said Wednesday that if the acquisition amounts to a further 25 percent stake for the firm, the value of the acquisition will be $250 million. DP World Australia is valued at approximately $1 billion.
DP World acquired the additional stake from Gateway Infrastructure Investments, an investment fund managed by Corsair Infrastructure Partners, as well as other investors.
DP World is the original corporate parent of DP World Australia, which manages terminals in Sydney, Melbourne, Brisbane and Fremantle.