DP World Australia
Announces Acquisition of Silk Logistics
Monday, 11th November 2024, Dubai,
UAE: DP World Australia, a
subsidiary of DP World, announces it has entered into a binding
Scheme Implementation Deed for the acquisition of 100% of the
issued share capital of Silk Logistics Holdings Limited via a
Scheme of Arrangementwith a cash offer of A$2.14 per share. The
transaction values the equity of Silk Logistics at approximately
A$174.5 million.
This transaction is subject to
shareholder approval of Silk Logistics and standard closing
conditions, including necessary regulatory approvals, and is
expected to complete in the first half of 2025.
Silk Logistics is a comprehensive
port-to-door logistics services provider which operates 21
logistics hubs and 25 warehousing sites across five Australian
states. Silk Logistics partners with some of the world's leading
brands providing efficient and cost-effective services to a
national customer base.
The Group operates two main business
segments:
§ Port
Logistics: Seamless wharf cartage
services between Australia's major ports.
§ Contract
Logistics: Warehousing and multimodal
distribution solutions to support complex supply chain
needs.
DP World Australia is a subsidiary of
DP World, a leading global transport and logistics company,
handling approximately 10% of global containerised trade. DP World
Australia operates four container terminals and three container
parks -- at Brisbane, Sydney, Melbourne and Fremantle -- as well as
inland distribution centres and warehouses.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP
World, said: DP World's
acquisition of Silk Logistics marks a significant step forward in
strengthening our integrated logistics capabilities and expanding
our service offerings. This strategic move reinforces our
commitment to providing seamless, end-to-end customised solutions
for our customers, while delivering sustainable value for all our
stakeholders.
Glen
Hilton, CEO & Managing Director, Asia Pacific, DP
World, said: "DP World Australia is
excited about the opportunity to welcome Silk Logistics into our
portfolio. This acquisition aligns with our strategy to deliver
complimentary logistics solutions for a broad customer base across
Oceania.
Combining DP World Australia's
terminal operations with Silk Logistics' value add services
enhances our capability to deliver enhanced solutions for
customers.
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Investor Enquiries:
Redwan Ahmed
Amin
Fikree
DP World
Limited
DP World Limited
Mobile: +971 50 5541557
Mobile: +971
56 6811553
Direct: +971 4 8080842
Direct: +971 4 8080923
Redwan.Ahmed@dpworld.com
Amin.Fikree@dpworld.com
