Specifically, according to the company's statement, the transaction is subject to customary completion conditions and is expected to close in the first half of 2019.
As the acquisition is considered a related party transaction under the DFSA Market Rules, DP World will comply with the relevant requirements of DFSA Market Rule 3.5.3.
According to Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World
This transaction is in line with our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler.
Also, the acquisition is expected to increase the company's earning from the first full year of consolidation and is expected to meet DP World’s return targets.
P&O Ferries provides roll-on roll-off ferries operation and a European transportation and logistics solutions provider, P&O Ferrymasters. The company operates a fleet of 21 vessels on the Short Sea, North Sea and Irish Sea sectors across 11 ports, while P&O Ferrymasters provides supply chain solutions in 19 European locations.