By Sam Bridge
DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny
Dubai-based DP World has agreed to acquire a majority 51 percent stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to regulatory approval.
Bringing the TIS Container Terminal into DP World's global network of ports, economic zones, warehousing, and inland logistics solutions will strengthen its position as the market-leading terminal of Ukraine, the port operator said in a statement.
This latest acquisition also complements the operations of DP World's P&O Maritime Services business through a joint venture with TIS Group, providing tugging, pilotage and other marine services in several Ukrainian ports, it added.
The acquisition comes as the Ukrainian container market grew over 20 percent in 2019.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: "We are delighted to extend our Ukraine footprint with this venture and are excited about the significant growth potential of the terminal. Our goal is to build the industry's leading data-driven supply chain solutions through our global portfolio, creating opportunities for our customers to realise game-changing value and accelerate their cargo deployments.
"We believe the strategic partnership with TIS Group will enable the terminal to continue growing, further cementing TIS Container Terminal's position as the leading gateway to Ukraine."