Dubai DP World's Australia operations to buy out Silk Logistics Holdings
Deal to buy Silk Lgistics Holdings is valued at A$174.5m
Dubai: In another of its big overseas moves, DP World Australia has entered a binding 'Scheme Implementation Deed' to buy 100% of Silk Logistics Holdings Ltd. for A$174.5 million. The deal - at A$2.14 a share - is expected to close H1-2025.
Silk Logistics is a port-to-door logistics services provider operating 21 logistics hubs and 25 warehousing sites across Australia. It partners some of the 'world’s leading brands' to provide 'efficient and cost-effective services to a national customer base.
DP World Australia is part of the Dubai owned ports and free zones' operator DP World.
"This transaction is subject to shareholder approval of Silk Logistics and standard closing conditions, including necessary regulatory approvals," said a statement.
DP World Australia handles aaround 10% of global containerised trade. It has four container terminals and three container parks - at Brisbane, Sydney, Melbourne and Fremantle - as well as inland distribution centres and warehouses.
"DP World’s acquisition of Silk Logistics marks a significant step forward in strengthening our integrated logistics capabilities and expanding our service offerings," said Sultan Bin Sulayem, Chairman and CEO of the Dubai company.
Silk Logistics Holdings has two main business segments:
- Port logistics: Wharf cartage services between Australia’s major ports.
- Contract logistics: Warehousing and multimodal distribution solutions to support supply chain needs.