DP World looks to acquire Jebel Ali Free Zone and delist from London Stock Exchange
Dubai-based terminal operator DP World Limited (DP World) and its wholly owned subsidiary, DP World FZE, has entered into an agreement relating to the proposed acquisition of Economic Zones World FZE (EZW), its subsidiaries and subsidiary undertakings from Port and Free Zone World FZE (PFZW). The company said the deal is worth US$2.6bn.
EZW is a provider of industrial and logistics infrastructure, comprising five business units, the primary one being the Jebel Ali Free Zone FZE (JAFZ), representing 97% of revenue and operating profit in 2013. JAFZ is a 57 sq. km commercial and industrial logistics park adjacent to DPW’s flagship Jebel Ali port in Dubai.
The company says the acquisition will provide “significant strategic, operational and financial benefits”, including the “creation of the leading integrated port and free zone in the Middle East”.
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