Unifeeder, a subsidiary of global port operator and supply chain company DP World, has
acquired three business units of UAE-based Transworld Group, the media reported.
The three units of Transworld Group acquired by DP World Unifeeder include
Transworld Feeders FZCO, Avana Logistek, including its subsidiary Avana Global FZCO,
and Transworld Feeders, the containerised Indian coastal and Exim feeder shipping
operations of Shreyas Shipping and Logistics.
The financial details of this deal are not yet disclosed.
With regard to the acquisition, Sultan Ahmed bin Sulayem, group chairman and chief
executive officer at DP World told the media, "Transworld Feeders and Avana are both
strong and well-known brands that handle approximately 1.2mn TEU per annum and
operate in fast-growing markets. Our Unifeeder ISC (Indian Subcontinent) platform will
continue to operate an asset-light, independent common-user platform, as we continue
to build the Unifeeder brand, which is best known for efficient connectivity, flexibility,
and reliability.”
DP World acquired a 60 percent stake in South Korea-based logistic firm Unico
Logistics.
The deal for DP World to acquire its stake in Unico Logistics is expected to be completed
in the fourth quarter of this year, according to DP World.
In the last couple of years, DP World has been committed to increase its presence in the
freight forwarding and logistics sector.
In this regard, Sultan Ahmed Bin Sulayem earlier told the media, “DP World’s vision is to
become the leading end-to-end supply chain solutions provider. By integrating Unico
into our worldwide network we will be able to offer better service to our customers in
South Korea and beyond.”