DP World subsidiary makes acquisition

Unifeeder ship The deal is expected to close in the first quarter of 2020. Image: DP World
Industry Database

A subsidiary of DP World has acquired a majority stake in a Singapore-based feeder and shortsea operator.

Unifeeder, acquired last August by DP World, has acquired a 77% stake in the Feedertech Group. The deal, which is expected to close in the first quarter of 2020, is the latest step in DP World's vision to build end-to-end logistics capability.

Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: "The acquisition of a stake in the Feedertech Group is another strategic step in our vision to build an end-to-end logistics capability and offer an integrated service suite that also engages end-customers and traders across the while optimising operations.”

He added: "Furthermore, it offers us exposure to the fast-growing coastal shortsea trade in the Indian Subcontinent, which is highly complementary to our existing India logistics strategy. The next and imminent stage of this development will be to launch a dedicated and efficient India-Gulf region service, which is an important route for our customers."

Feedertech operates two businesses; Feedertech, which is an independent feedering service, and Perma, a regional shortsea network. Both operate in the same market and connect the fast-growing trade route of Asia to the Middle East via the Indian subcontinent.

Unifeeder is an integrated logistics company with the largest and best-connected feeder and growing shortsea network in Northern Europe. It has connectivity to approximately 100 ports.

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