DP World Limited today announces that it has entered into agreements to acquire Maritime World LLC, the 100% owner of Dubai Maritime City (DMC), for a purchase consideration of US$ 180 million and to buy 100% of Drydocks World LLC (Drydocks) by means of a capital injection of US$ 225 million, taking the total cash required for the acquisitions of DMC and Drydocks to US$ 405 million.
DP World Limited announces that the company has reached a decision not to renew its operating contract for PT Terminal Petikemas Surabaya (TPS) in Indonesia at the end of the agreement in 2019.
Global trade enabler DP World today announces solid financial results for the six months to 30 June 2017. On a reported basis, revenue grew 9.6% and adjusted EBITDA increased by 4.2%. Adjusted EBITDA margin was 53.4%, delivering profit attributable to owners of the Company, before separately disclosed items, of $606 million and EPS of 73.0 US cents.
Fitch Ratings has upgraded DP World’s Limited’s Long-Term Issuer Default Rating (IDR) to BBB+ from BBB and affirmed Short-Term IDR at F2. The rating outlook is stable.