Global container operator DP World sells 51% stake in Pivdennyi port terminal to TIS
Global container operator DP World has sold its 51% stake in a container terminal at the port of Pivdennyi. The stake was acquired by TIS Group, which has also regained control over the tugboat business P&O Maritime Ukraine, DP World told Latifundist.com.
Background. On March 10, the outlet Komersant Ukrainskyi reported that TIS had fully bought back its container terminal and tugboat business from DP World and P&O Maritime.
“Following a five-year partnership, Ukrainian port operator TIS Group and DP World, a Dubai-headquartered global leader in logistics and trade, have signed an agreement under which DP World has sold its 51% stake in the container terminal in Pivdennyi, Ukraine, as well as the associated marine services business back to TIS, in line with DP World’s regional and global strategy,” the statement said.
The company noted that all relevant regulatory approvals had been obtained and the transaction had been completed. DP World will continue to explore business opportunities in Ukraine.
TIS declined to comment on the deal.
In June 2020, DP World acquired the TIS container terminal. The purchase of the stake became the second successful partnership experience between DP World and TIS shareholders. Their first joint project was the tugboat operator P&O Maritime Ukraine.
