DP World acquires Unifeeder
Global trade enabler DP World has acquired the Unifeeder Group for €660 million (US$766 million) from Nordic Capital Fund VIII and certain minority shareholders.
Based in Denmark, Unifeeder operates the largest and most densely connected common user container feeder and a growing shortsea network in Europe, serving both deep-sea container hubs and the intra-Europe container freight market.
The acquisition is subject to regulatory approvals and expected to be earnings accretive in the first full year after completion.
It will be financed from existing balance sheet resources and is expected to close in the last quarter of 2018.