DP World Australia has announced a binding Scheme Implementation Deed to acquire Silk Logistics Holdings Limited in a deal valued at approximately AUS174.5 million ($114.10 million).
This acquisition, under a Scheme of Arrangement, offers Silk Logistics shareholders AUS 2.14 ($1.40) per share and is expected to finalise in the first half of 2025, pending shareholder approval, regulatory clearance, and standard closing conditions.
Silk Logistics Holdings provides comprehensive port-to-door logistics solutions, with a network spanning 21 logistics hubs and 25 warehouses across five states in Australia.
DP World Australia operates four major container terminals in Brisbane, Sydney, Melbourne, and Fremantle, alongside inland distribution centres and warehouses.
The addition of Silk Logistics is anticipated to bolster DP World’s terminal-to-door services in Australia.
Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said, “DP World’s acquisition of Silk Logistics marks a significant step forward in strengthening our integrated logistics capabilities and expanding our service offerings.
“This strategic move reinforces our commitment to providing seamless, end-to-end customised solutions for our customers, while delivering sustainable value for all our stakeholders.”
Glen Hilton, CEO and Managing Director, Asia Pacific at DP World added: “DP World Australia is excited about the opportunity to welcome Silk Logistics into our portfolio.
“This acquisition aligns with our strategy to deliver complementary logistics solutions for a broad customer base across Oceania.”
Just recently, DP World marked the operational launch of the world’s first all-electric berth at London Gateway with the arrival of the MSC Sena.