DP World Australia, a subsidiary of the global transport and logistics giant DP World, has announced a binding Scheme Implementation Deed for the acquisition of 100% of Silk Logistics Holdings Limited.
The deal, valued at approximately A$174.5 million, will see a cash offer of A$2.14 per share made to Silk Logistics’ shareholders.
Silk Logistics, a leading Australian logistics services provider, operates 21 logistics hubs and 25 warehousing sites across five states, offering port-to-door services for a wide range of customers. The company operates in two main sectors: Port Logistics, which provides seamless wharf cartage services between major Australian ports, and Contract Logistics, offering warehousing and multimodal distribution solutions.
The transaction is subject to approval from Silk Logistics’ shareholders and necessary regulatory clearances. If all conditions are met, the deal is expected to close in the first half of 2025.
Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, expressed that the acquisition marks a major step in enhancing the company’s integrated logistics capabilities.
"This strategic move strengthens our end-to-end solutions and supports our commitment to sustainable value for stakeholders,"
he said.
Glen Hilton, CEO & Managing Director of DP World Asia Pacific, added,
"Silk Logistics aligns with our strategy to provide complementary logistics solutions across Oceania, expanding our capacity to serve a broader customer base with enhanced service offerings."
The acquisition will integrate DP World Australia’s existing terminal operations with Silk Logistics’ services, bolstering the company’s position in the regional logistics market.
News Source: Dubai Media Office
