DP World acquires P&O Ferries

Dubai-based port operator DP World has just announced the acquisition of the British ferry company P&O Ferries and its logistics branch P&O Ferrymasters for GBP322 million (about EUR369 million). With its fleet of 21 vessels, P&O Ferries offers more than 30,000 connections per year between Great Britain, France, Ireland, Northern Ireland, the Netherlands and Belgium while P&O Ferrymasters provides supply chain solutions in 19 European locations. This acquisition is expected to be earnings accretive from the first full year of consolidation and is expected to achieve DP World’s return targets.