DP World acquires fully integrated logistics services provider in Peru
Global trade enabler, DP World announces the acquisition of Cosmos Agencia Maritima S.A.C. (CAM)1 for $315.72 million. Based in Peru, CAM owns a fully integrated logistics service business (Neptunia S.A and Triton Transport S.A) that offers end-to-end solutions to its customers. The logistics division offers an integrated platform of solutions in activities related to foreign trade, product storage and distribution, as well as freight services that facilitate development and implementation of industry specific projects. In addition to the maritime and logistics services offered by Cosmos Group, it also has a 50% stake in Terminales Portuários Euroandinos S. A., in the Port of Paita (Peru), which is the second largest container terminal in the country.
DP World and NIIF joint venture Hindustan Infralog to acquire 90% of Continental Warehousing Corporation
Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), announces the acquisition of a 90% stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL), an integrated multimodal logistics player in India. CWCNSL’s founders, the Reddy family, will retain the remaining 10% shareholding and will remain involved in the
business operations. The purchase consideration is below 5% of DP World’s net asset value as of FY20171 and it is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to US$ 3 billion in ports, logistics and related sectors.
CWCNSL was founded in 1997 and is a leading integrated multimodal logistics provider of Warehousing, Container Freight Stations (CFS), Inland Container Depots (ICD), Private Freight Terminals (PFT) and integrated logistics solutions. CWCNSL’s logistics network is spread across key strategic locations in India covering a total area of over 400 acres and providing over 660k TEU (twenty-foot equivalent units) capacity. In addition, CWCNSL’s wholly owned subsidiary Delex Cargo India Private Ltd provides door-to-door logistics solutions including freight forwarding, 3rd party logistics, express logistics and hub-and-spoke model of delivery across 54 locations in 40 cities.
In India, DP World has been operating container port terminals since 1997 and was instrumental in building the first Private-Public Partnership (PPP) project for the Government of India. DP World is currently present at six locations in India with over 6 million TEU of gross capacity and also operates container trains connecting ports to the hinterland.
The acquisition of CWCNSL will further enhance DP World’s presence in the entire logistics value chain in India. The current operations of CWCNSL are highly complementary to the Group’s existing business in terms of the business model and geographic footprint providing significant new revenue opportunities over the long term.
Please share the news