DP World has recently made a number of acquisitions, and now the company is allegedly lining up its next two targets.
Hindu Business Line writes that DP World is in negotiations with the Indian Transworld Group to acquire two of the its shipping companies.
According to the media, Dubai-based DP World wants to acquiring feeder carrier Shreyas Shipping, with a fleet of 13 Indian-flagged vessels, and logistics company Avana Global Logistek.
An anonymous source with knowledge of the deal says the parties are very close to landing an agreement. DP World did no return the media’s request for a comment.
DP World has made several major acquisitions in the last two years. In 2018, the group b Danish shipping company Unifeeder from an equity fund, and the company also acquired a majority stake in Singapore-based carrier Feedertech last year.
In 2019, DP World also snapped up offshore shipping company Topaz Energy and Marine as well as ferry operator P&O Ferries.
The acquisitions are part of DP World’s strategy to become an integrated shipping company capable of covering all stages of transport when an item needs to be shipped.
English Edit: Ida Jacobsen
Acquisitions add billions of dollars to DP World’s top line
DP World joins Tradelens
DP World acquires Canadian terminal
DP World CFO becomes chair at Unifeeder
