DUBAI, United Arab Emirates (AP) — Global port operator DP World says it has acquired Danish logistics firm Unifeeder for $748 million, about 660 million euros, helping the Dubai-owned company expand its foothold through the largest feeder and shortsea network in Europe.
DP World's full acquisition of Unifeeder Group from Nordic Capital Fund VIII was announced in August, but finalized on Thursday.
DP World says Unifeeder's smaller vessels and connectivity to approximately 100 ports will enhance the port operator's presence in the global supply chain and broaden its services. While DP World's core business remains in container terminals, the company says this latest acquisition is part of a wider strategy to diversify revenues.
DP World's profits last year climbed to $1.2 billion with revenue reaching $4.7 billion.
Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.
