DPW FINDS AUSTRALIAN PARTNER

DP World is to partner Kaplan Equity in bidding for various port projects in Australia.This will be done through its two subsidiaries P& O Automotive & General Stevedoring and P& O Trans Australia. Kaplan Equity will take financial stakes in both these companies, with DP World retaining 25% of the former and 50% of the latter.The transaction – estimated to be worth around A$200m ($159m) – is expected to be completed by the end of March.