DP World increases stake in DP World Australia

DP World has acquired an additional stake in DP World Australia from Gateway Infrastructure investments and other financial investors valued at approximately AU$1.4bn (US$997m).

Expected in the first quarter of 2019, the closure of the acquisition, subject to regulatory approval, would see DP World Australia become a consolidated entry within the DP World Group.

The port operator manages four terminals at each of Australia’s major ports – Sydney, Melbourne, Brisbane and Fremantle – with a capacity of approximately 4m teu and in 2017, it handled 3.4m teu and generated over US$400m in revenue.