DUBAI / WAM DP World has announced the acquisition of the holding company of P&O Ferries and P&O Ferrymasters (together P&O Ferries) for a purchase consideration of GBP322 million ($421million) (AED1.54 billion), implying a 2017 Enterprise Value/EBITDA valuation multiple of 6.1x. Britain-based P&O Ferries is a pan-European integrated logistics business consisting of a market leading roll-on roll-off (Ro-Ro) ferries operation ...

ABU DHABI / WAM Al Seer Marine, Abu Dhabi based manufacturer of unmanned surface vessels, has signed a strategic partnership agreement with Advanced Electronics Company (AEC), a Saudi-based company, to build unmanned surface vessels for the kingdom. Al Seer Marine will be primary manufacturer for unmanned surface vessels in Saudi and AEC will be their exclusive partner. This collaboration will ...

ABU DHABI / WAM Calidus, Abu Dhabi-based a Defence Technology Development and Manufacturing Company, has signed a memorandum of understanding (MoU) with GDC Middle East of Riyadh to establish a joint corporation to explore the market in the Mena region for the Calidus B-250 light attack aircraft and to develop in-house capabilities. The MoU comes on the occasion of Idex ...