DP World Australia Acquisition of Silk Logistics

DP World Limited

11 November 2024

 

DP World Australia Announces Acquisition of Silk Logistics

Monday, 11^th November 2024, Dubai, UAE:  DP World Australia, a subsidiary of DP World, announces it has entered into a binding Scheme Implementation Deed for the acquisition of 100% of the issued share capital of Silk Logistics Holdings Limited via a Scheme of Arrangementwith a cash offer of A$2.14 per share. The transaction values the equity of Silk Logistics at approximately A$174.5 million.

This transaction is subject to shareholder approval of Silk Logistics and standard closing conditions, including necessary regulatory approvals, and is expected to complete in the first half of 2025.

Silk Logistics is a comprehensive port-to-door logistics services provider which operates 21 logistics hubs and 25 warehousing sites across five Australian states. Silk Logistics partners with some of the world's leading brands providing efficient and cost-effective services to a national customer base.

The Group operates two main business segments:

§ Port Logistics: Seamless wharf cartage services between Australia's major ports.

§ Contract Logistics: Warehousing and multimodal distribution solutions to support complex supply chain needs.

DP World Australia is a subsidiary of DP World, a leading global transport and logistics company, handling approximately 10% of global containerised trade. DP World Australia operates four container terminals and three container parks -- at Brisbane, Sydney, Melbourne and Fremantle -- as well as inland distribution centres and warehouses.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said:  DP World's acquisition of Silk Logistics marks a significant step forward in strengthening our integrated logistics capabilities and expanding our service offerings. This strategic move reinforces our commitment to providing seamless, end-to-end customised solutions for our customers, while delivering sustainable value for all our stakeholders.

Glen Hilton, CEO & Managing Director, Asia Pacific, DP World, said: "DP World Australia is excited about the opportunity to welcome Silk Logistics into our portfolio. This acquisition aligns with our strategy to deliver complimentary logistics solutions for a broad customer base across Oceania.

Combining DP World Australia's terminal operations with Silk Logistics' value add services enhances our capability to deliver enhanced solutions for customers.

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Investor Enquiries:

Redwan Ahmed                                                                           Amin Fikree

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