DP World’s India JV buys 90% stake in logistics firm

DUBAI / WAM

Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), announced the acquisition of a 90% stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL), an integrated multimodal logistics player in India.
CWCNSL’s founders, the Reddy family, will retain the remaining 10% shareholding and will remain involved in the business operations. The purchase consideration is below 5% of DP World’s net asset value as of FY20171 and it is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to $3 billion in ports, logistics and related sectors. In India, DP World has been operating container port terminals since 1997 and was instrumental in building the first Private-Public Partnership (PPP) project for the Government of India. DP World is currently present at six locations in India with over 6 million TEU of gross capacity and also operates container trains connecting ports to the hinterland.
Commenting on the announcement, Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World, said, “We are delighted to start our recent partnership with NIIF with this strategic acquisition to develop logistics and warehousing solutions to support India’s growing economy and trade.”

DP World acquires Peru company
DUBAI / WAM

DP World has announced the acquisition of Cosmos Agencia Maritima S.A.C. (CAM) for $315.7 million. Based in Peru, CAM owns a fully integrated logistics service business (Neptunia S.A and Triton Transport S.A) that offers end-to-end solutions to its customers. The logistics division offers an integrated platform of solutions in activities related to foreign trade, product storage and distribution, as well as freight services that facilitate development and implementation of industry specific projects.
In addition to the maritime and logistics services offered by Cosmos Group, it also has a 50% stake in Terminales Portuarios Euroandinos SA, in Port of Paita, Peru, which is second lar-gest container terminal in the country.