Abu Dhabi: DP World Limited and its wholly owned subsidiary, DP World FZE, on Tuesday announced that they have closed the acquisition of Economic Zones World FZE (EZW) shares from Port and Free Zone World FZE (PFZW).
Ezw‘s key asset is the Jebel Ali Free Zone, which is one of the largest free zones in the GCC (Gulf Cooperation Council) and a major industrial and commercial development in Dubai.
Commenting on the deal’s closure, Sultan Ahmad Bin Sulayem, Chairman of DP World, said in a statement: “We are very pleased to have reached the close of this acquisition which is compelling from both a strategic and financial perspective. This will allow us to enhance our position as the leading logistics hub in the Middle East region, accelerate growth and deliver shareholder value.
“Acquiring a strategically located asset integral to Jebel Ali’s continued success enhances our competitive advantage and aligns with our strategy of providing port-centric integrated logistics solutions at key gateway locations.”