DP World’s parent company Port and Free Zone World has offered to acquire the 19.55 per cent of DP World’s shares traded on Nasdaq Dubai, returning the company to private ownership.
The move will enable DP World to focus on its medium-to-long-term strategy of transforming from a global port operator to an infrastructure-led end-to-end logistics provider. Upon successful offer acceptance, DP World will be 100 per cent owned by Port and Free Zone World, which, in turn, is a wholly-owned subsidiary of Dubai World.
The Board of Directors of Port and Free Zone World and the Independent Directors of DP World have reached agreement on a cash offer for the shares, which the Independent Directors deem to be fair and reasonable. Each DP World share will be acquired at $16.75.
