DP World concluded acquisition of TIS Container Terminal
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Global provider of smart end-to-end supply chain logistics, DP World, announced the completion of its acquisition of a 51% stake in TIS Container Terminal in the Port of Pivdenny in Ukraine.
"This follows the satisfaction of specific conditions including confirmation of regulatory approval from the relevant government authorities," the company says in a statement.
This project will be DP World's second partnership with TIS shareholders, the first being our very successful partnership in the P&O Maritime Ukraine which provides harbour towage services in the principal Black Sea ports in Ukraine, the message reads.
"DP World is broadening the geography of its presence, and TIS Container Terminal strengthens its leading position among specialized sea terminals of Ukraine. DP World will be able to more effectively use its global network of ports, economic zones, warehouses and offer optimized inland logistics solutions," TIS officials comment.
Moreover, this gives DP World the potential to offer a unique Black Sea product by linking its terminals in Constanta and Yarimca with TIS Container Terminal using its Unifeeder network.
Under the terms of the agreement, DP World has acquired a majority stake and will take control of the terminal operations going forward. DP World will be a key player in the region and will look to expand the catchment of the terminal using its market-leading rail connectivity.
"Today ushers in a new and promising era, as we expand our global portfolio in Ukraine. We are excited about this important milestone and this acquisition supports our long-lasting commitment to enabling global trade. This acquisition establishes DP World in a highly attractive market, we look forward to contributing our experience, expertise and resources to the continued development and growth of the TIS Container Terminal. In so doing, we will look to build on and expand the commercial success that TIS Container terminal has achieved," said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.
DP World first announced its plans for TIS Container Terminal majority acquisition in February 2020.
