- DP World-controlled Unifeeder Group has confirmed it is buying Transworld Feeders FZCO, Avana Logistek , including its subsidiary Avana Global FZCO, and Transworld Feeders.
- The acquisition gives rapidly growing Unifeeder, a strong presence towards the Indian Subcontinent, complementing its recent acquisition of Feedertech and Perma Shipping.
- The deal is expected to be completed by the end of this year.
Dubai’s DP World strengthens its footprint in India through the acquisition of Transworld Feeders FZCO, Avana Logistek Limited, including its subsidiary Avana Global FZCO, and Transworld Feeders, the containerized Indian coastal and EXIM feeder shipping operations of Shreyas Shipping and Logistics, reports Splash247.
However, this excludes vessels and bulk operations being managed through its subsidiary Unifeeder Group.
DP World bolsters India footprint
The deal, which is subject to regulatory approval, gives Unifeeder, which DP World acquired in 2018 for $764 million, a strong presence on the western side of the Indian Subcontinent, complementing its acquisition of Singapore’s Feedertech and Perma Shipping in December last year.
“These acquisitions further strengthens our logistics solution-based capabilities, as we can combine our significant network of ports and market-leading inland logistics offering to deliver compelling supply chain solutions to all our customers,” said Sultan Ahmed Bin Sulayem, Group Chairman, and CEO DP World.
Read Also: DP World tipped to buy out Shreyas Shipping and Logistics
Transworld Feeders and Avana Global are independent feeder and non-vessel operating common carrier operators that offer container feedering services and trade solutions which connect several ports in the Middle East, the Indian Subcontinent, and the Far East.
The acquisition gives rapidly growing Unifeeder full-scale capability to offer feedering and regional trade connectivity in Northern Europe, Mediterranean, Northern Africa, Middle East, Indian Subcontinent, and Asia.
Ramesh S Ramakrishnan, Chairman of Transworld Group and Shreyas Shipping and Logistics, said, “The acquisition of three of our portfolio companies, will provide DP World and Unifeeder ISC a robust platform to jointly deliver a more complete range of solutions to our customers.”
When combined, Transworld Feeders and Avana can handle around 1.2 million TEU per annum and operate in fast-growing markets. The deal is expected to be completed by the end of this year.
Read Also: DP World acquires Unifeeder for $764m in new chapter for containerisation
Recent deals in Asia
Last month, DP World agreed to acquire a 60% stake in South Korea’s UNICO Logistics, a deal which is expected to increase its supply chain solutions capabilities and provide a platform to drive synergies between its operations in both the Asia Pacific and European regions.
UNICO, established in 2002 by H.J. Park, is a multimodal transport specialist with a strong market presence in the fast-growing transcontinental rail freight market between East and Central Asia and Russia, in particular on the strategically important Trans-Siberian Railway “TSR” and Trans China Railway “TCR.” It has 25 subsidiaries in 20 countries.
The deal is expected to be completed by the end of this year.
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Source: Splash247
