Dubai: DP World, one of the world’s largest port operators, announced on Monday that it has acquired the remaining 49 per cent in DP World Southampton and is now the sole owner of the company.
It acquired the stake from Associated British Ports (ABP). DP World declined to reveal how much the company spent on the acquisition.
DP World also announced that it has reached an agreement with ABP to extend its licence agreement for DP World Southampton by 25 years until 2047.
ABP Chief Executive James Cooper said the DP World’s acquisition “provides a solid foundation for the continued growth and development of the UK’s most productive container port”.
DP World Chairman Sultan Ahmad Bin Sulayem said the Dubai-government owned company is “delighted” with the extension.
“Through full ownership of DP World Southampton, we will now be able to combine with DP World London Gateway, the newest deep-sea container terminal and logistics park at the heart of the UK’s biggest consumer markets, to offer our customers the best possible service,” Bin Sulayem said.
