{"id":105277,"date":"2025-07-07T00:00:00","date_gmt":"2025-07-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dp-world-acquires-controlling-stake-in-switzerlands-novaalgoma\/"},"modified":"2025-07-07T00:00:00","modified_gmt":"2025-07-07T00:00:00","slug":"dp-world-acquires-controlling-stake-in-switzerlands-novaalgoma","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/07\/07\/dp-world-acquires-controlling-stake-in-switzerlands-novaalgoma\/","title":{"rendered":"DP World acquires controlling stake in Switzerland\u2019s NovaAlgoma"},"content":{"rendered":"

DP World <\/strong>buys into NovaAlgoma, venturing into cement logistics: <\/strong>DP World subsidiary P&O<\/a>Maritime Logistics<\/a> inked a definitive agreement to buy a controlling stake in Swiss-logistics firm NovaAlgoma Cement Carriers\u2019 (Nacc) core business for an undisclosed sum, according to a press release<\/a>. The transaction \u2014 which is set to wrap up in the coming months pending regulatory approvals \u2014 excludes Nacc\u2019s interests in Northern Europe, Indonesia and Greece.<\/p>\n

Post-acquisition plans: <\/strong>The sellers will retain a minority stake in the JV following the acquisition, with plans to keep Nacc\u2019s current leadership unchanged.<\/span><\/p>\n

What does Nacc do?<\/strong> Nacc is a JV between Switzerland\u2019s Nova Marine Holding and Canada\u2019s Algoma Central Corporation, and operates a fleet of pneumatic cement c<\/a>arriers<\/a>. <\/p>\n

The transaction aims to expand DP World\u2019s reach in breakbulk and <\/strong>dry-bulk<\/strong>, especially infrastructure cargo, while ramping up its end-to-end logistics capabilities in key growth markets including North America, Europe, South Asia and the Caribbean, the release said. The transaction combines DP World\u2019s \u201cglobal reach and scale\u201d with P&O\u2019s |technical and market expertise,\u201d DP World Group Chairman and CEO Sultan Ahmed bin Sulayem said. <\/p>\n

OTHER M&A NEWS-<\/p>\n

ADIA t<\/strong>o <\/strong>offload stake<\/strong> in UK ins. group PICG to Athora:<\/strong> The Abu Dhabi Investment Authority (ADIA) agreed to sell its entire 18.4% stake in Pension Ins. Corporation Group (PICG)<\/a> \u2014 which it holds through a wholly-owned subsidiary \u2014 to Apollo- and ADIA-backed specialized life ins. group Athora Holding<\/a>, according to a press release (pdf)<\/a>. The value of the transaction, which is due to close early next year, was not disclosed. <\/p>\n

The sale is part of Athora\u2019s USD 7.8 bn takeover of a subsidiary of PICG<\/strong> \u2014 Pension Ins. Corporation (PIC) \u2014 Reuters<\/a> reported last week.<\/p>\n

ADIA maintains exposure to PICG:<\/strong> ADIA is a long-term institutional investor in Athora, which means it will retain exposure to PICG after the sale. As of 2023, the sovereign wealth fund held roughly 19% of Athora. It first bought into the firm in 2018. <\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction is set to wrap up in the coming months<\/p>\n","protected":false},"author":1,"featured_media":105278,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[244,99,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-105277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-dp-world","tag-logistics","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"4a86da50-d0cf-4cd9-84cb-b13f50e1d8e4","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/1698.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP World acquires controlling stake in Switzerland\u2019s NovaAlgoma","related_issue":[105272],"teaser":"The transaction is set to wrap up in the coming months","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.3056408d-efce-4057-86a3-cd91e7240caf.mp3"},"yoast_head":"\nDP World acquires controlling stake in Switzerland\u2019s NovaAlgoma - 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