logistics company P&O Ferries for a purchase consideration of GBP 322
million (USD 421 million).
Value/EBITDA valuation multiple of 6.1x.
year of consolidation and is expected to meet DP World’s return targets. On a
proforma basis, DP World’s net leverage as of the first half of 2018 would be
2.96x net debt to EBITDA with this acquisition compared to the reported 2.91x.
expected to close in the first half of 2019.
building on last year’s acquisition of
Unifeeder. This transaction is in line with our strategy to grow in
complementary sectors, strengthen our product offering and play a wider role in
the global supply chain as a trade enabler,” Sultan
Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said.
and a European transportation and logistics solutions provider, P&O
North Sea and Irish Sea sectors across 11 ports, while P&O Ferrymasters
provides supply chain solutions in 19 European locations.