DP World Australia invests $115.6 million in Silk Logistics
6 days ago
DP World Australia invests $115.6 million in Silk Logistics
DP World Australia has announced a binding agreement to acquire Silk Logistics Holdings Limited, valued at approximately $115.6 million. Once completed, the acquisition will add Silk’s 21 logistics hubs and 25 warehousing sites across five Australian states to DP World’s existing assets, which include four container terminals and three container parks across Brisbane, Sydney, Melbourne, and Fremantle, as well as inland distribution centers and warehouses.
Silk Logistics provides comprehensive logistics services across two main segments: port logistics, which includes wharf cartage at major Australian ports, and contract logistics, covering warehousing and multimodal distribution.
This transaction is subject to Silk Logistics’ shareholder approval, regulatory clearances, and standard closing conditions, with completion anticipated in the first half of 2025.
Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, stated, “The acquisition of Silk Logistics is a key milestone in enhancing our integrated logistics capabilities and expanding our service offerings. This strategic step underscores our commitment to delivering seamless, end-to-end solutions for our customers and generating sustainable value for our stakeholders.”
Glen Hilton, CEO & Managing Director, Asia Pacific at DP World, added, “We are thrilled to welcome Silk Logistics to our portfolio. This acquisition supports our strategy to provide complementary logistics solutions for a broad customer base across Oceania. By integrating DP World Australia’s terminal operations with Silk Logistics’ value-added services, we can offer enhanced solutions to our customers.”
Source: Seatrade Maritime