Dubai-owned giant port operator DP World on Monday (September 18th) announced it has agreed to acquire two maritime services companies for a total of $405 million, AFP reported.
The company, which operates 77 marine and inland terminals around the world, said it will buy Drydocks World, which operates the largest ship repair yard in the Middle East, for $225 million.
DP World also announced in a statement the purchase for $180 million of Maritime World, the 100% owner of Dubai Maritime City, a service facility.
"These transactions will enhance our position as a leading maritime services provider, and we look forward to leveraging on our proven track record to accelerate growth and deliver stakeholder value," DP World chairman Sultan Ahmed bin Sulayem said.
