Global logistics giant DP World is moving ahead with the acquisition of Australia’s port-to-door logistics services provider Silk Logistics Holdings Limited.
On Monday, the Dubai-based DP World confirmed that its subsidiary DP World Australia 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 Arrangement with a cash offer of A$2.14 per share.
The transaction values the equity of Silk Logistics at about A$174.5m.
The deal, which is expected to be completed in the first half of 2025, is subject to shareholder approval of Silk Logistics and standard closing conditions, including necessary regulatory approvals.
Silk Logistics operates 21 logistics hubs and 25 warehousing sites across five Australian states. The group operates two main business segments, Port Logistics and Contract Logistics.
On the other hand, global transport and logistics company 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.
“DP World’s acquisition of Silk Logistics marks a significant step forward in strengthening our integrated logistics capabilities and expanding our service offerings,” said Sultan Ahmed bin Sulayem, DP World group chairman and CEO.
