Dubai-based port operator DP World has completed the acquisition of a 51 percent stake in TIS Container Terminal in the Port of Yuzhny in Ukraine, the media reported.
According to DP World, the acquisition of TIS Container Terminal will help the company expand its operations as well as strengthen TIS Container Terminal as one of the key market-leading purpose-built terminals in Ukraine by leveraging DP World’s global network of ports, economic zones, warehousing, and inland logistics solutions.
The acquisition marks DP World’s second major partnership with TIS shareholders, the first being with P&O Maritime Ukraine.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World told the media, “Today ushers in a new and promising era, as we expand our global portfolio in Ukraine. We are excited about this important milestone and this acquisition supports our long-lasting commitment to enabling global trade.”
“This acquisition establishes DP World in a highly attractive market, we look forward to contributing our experience, expertise and resources to the continued development and growth of the TIS container terminal. In so doing, we will look to build on and expand the commercial success that TIS Container terminal has achieved.”
Earlier this year, DP World acquired Fraser Surrey Docks from to strengthen its footprint in Canada. It acquired Fraser Surrey Docks from Macquarie Infrastructure Partners (MIP) and Caisse de dépôt et placement du Québec (CDPQ).
The acquisition will include terminal operations in Vancouver, Nanaimo, Prince Rupert and St John’s, media reports said. Fraser Surrey Docks was established in the early 1960s. Now it has become the biggest multi-purpose terminal on the West Coast of North America.