Dubai-based port operator DP World has announced that it has acquired a 44 percent stake in container terminal operator Swissterminal Holding. The stake purchase in Swissterminal will help DP World strengthen its position as an inland supply chain solutions provider.
According to media reports, the Mayer family, who founded Swissterminal, will remain the majority shareholder after
DP World’s stake purchase. The financial details of the deal are yet not known.
Also, the deal does not bring in any changes to the structure of the company and Roman Mayer will also retain his role as the chief executive officer of Swissterminal.
With regard to the stake purchase in Swissterminal, DP World Logistics managing director Martin Neese told the media, “We are excited to invest in an innovative container terminal operator with extensive industry know-how, committed employees and strong values. The strategic partnership with Swissterminal strengthens DP World’s position as a leading provider of inland supply chain solutions.”
“Swissterminal is a perfect match to our existing inland and seaport operations in Europe. We look forward to developing new intermodal solutions together for the benefit of our customers.”
The acquisition is expected to increase DP World’s footprint in Europe. Prior to the deal, DP World’s Inland’s European terminal network was limited to four locations in Germany and Belgium. But now, the deal sees the network increase to nine locations.
Last year, it was reported that DP World is considering further acquisitions in the logistics and supply chain sector.
According to DP World CEO and Managing Director Mohammed Al Muallem, the company wants to strengthen its position as a trade enabler.