P&O Maritime buys majority stake in Spain’s Repasa

Dubai: P&O Maritime, a subsidiary of DP World, has bought a majority stake in Spain’s Remolcadores de Puerto y Altura (Repasa), the acquirer said in a statement on Thursday.

The deal, the value of which was not disclosed, will create a new joint venture company under the P&O Maritime brand. Family-owned Repasa provides marine support services to the offshore energy industry, the statement said. The joint venture will expand P&O Maritime’s presence to include the Mediterranean and West Africa and enhance its capabilities regarding liquefied natural gas (LNG).