DP World has acquired the holding company of P&O Ferries and P&O Ferrymasters for GBP322m (USD421m), as its steps up its investments in shipping following the purchase of Unifeeder last year.
After selling the company a decade ago, the Dubai-based company is buying it back at an EBITDA valuation multiple of 6.1x.
Sultan Ahmed bin Sulayem, group chairman and CEO of DP World, said: “P&O Ferries is a strong, recognisable brand and adds a best-in-class integrated logistics provider into our global portfolio.
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