Dubai’s DP World has announced its plan to acquire Australia’s Silk Logistics Holdings, a freight and logistics service provider in a deal worth A$174.5 million ($114.9 million).
The Australia-based subsidiary of Dubai’s DP World ‘DP World Australia‘ will acquire Silk Logistics at a price of A$2.14 ($1.40) per share.
This transaction is subject to shareholder approval of Silk Logistics and standard closing conditions, including necessary regulatory approvals, and is expected to be completed in the first half of 2025.
Silk Logistics is a comprehensive port-to-door logistics services provider that operates 21 logistics hubs and 25 warehousing sites across five Australian states. The company partners with some of the world’s leading brands providing efficient and cost-effective services to a national customer base.
The company operates two major 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 containerized trade. DP World Australia operates four container terminals and three container parks – at Brisbane, Sydney, Melbourne, and Fremantle – as well as inland distribution centers and warehouses.
Speaking of the development, Sultan Ahmed bin Sulayem, Group Chairman & CEO of 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.” he said
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.”
According to DP World, combining DP World Australia’s terminal operations with Silk Logistics’ value-added services enhances our capability to deliver enhanced solutions for customers.
