{"id":90890,"date":"2024-04-15T00:00:00","date_gmt":"2024-04-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/"},"modified":"2024-04-15T00:00:00","modified_gmt":"2024-04-15T00:00:00","slug":"dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/04\/15\/dp-world-is-reportedly-eyeing-an-acquisition-of-hong-kong-based-cargo-services-far-east\/","title":{"rendered":"DP World is reportedly eyeing an acquisition of Hong Kong-based Cargo Services Far East"},"content":{"rendered":"

Port<\/strong> operator DP World is reportedly finalizing the acquisition of Hong Kong-based <\/strong>logistics firm <\/strong>Cargo Services Far East<\/a><\/strong>, Bloomberg<\/a> reported, citing sources with knowledge of the matter. The potential acquisition could be valued between USD 300-400 mn, with the move set to expand DP World\u2019s Asian footprint.<\/p>\n

Details are scant:<\/strong> Both firms are working to finalize the transaction, with an announcement possible in the coming days, sources told Bloomberg. A final value of the acquisition depends on the assets included in the sale. We first caught wind of the talks back in November<\/a>, with sources at the time valuing a potential takeover at USD 800 mn.<\/p>\n

About the company: <\/strong>Cargo Services Far East \u2014 owned by Hong Kong tycoon John Lau \u2014 operates in cold chain logistics, ocean and freight shipping, and fashion distribution, according to Bloomberg. The company has offices in 35 cities in China, Singapore, Australia, South Africa, and the US. The firm\u2019s stock dipped by around 31% over the last 12 months, valuing the company at around USD 212 mn, the outlet also said.<\/p>\n

DP World has been on an expansion spree: <\/strong>DP World inked an agreement with Brazil\u2019s leading railway operator Rumo to establish a new terminal for grains and fertilizers at Port Santos last month<\/a>. The port operator also announced that it was gearing up to develop a new USD 50 mn logistics center<\/a> in South Korea\u2019s Busan New Port, with construction slated to begin at the end of the year and operations kicking off by 2Q 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"

A takeover could be valued at as much as USD 400 mn<\/p>\n","protected":false},"author":1,"featured_media":90891,"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":[244,7,88,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-dp-world","tag-enterpriseam-uae","tag-hong-kong","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"4edf5b9a-bd1f-4dd9-8b38-7b25c18cfffb","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2163.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DP World is reportedly eyeing an acquisition of Hong Kong-based Cargo Services Far East","related_issue":[90879],"teaser":"A takeover could be valued at as much as USD 400 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.1a5fd2a7-9b9c-4db2-9581-bb54cbeec1fd.mp3"},"yoast_head":"\nDP World is reportedly eyeing an acquisition of Hong Kong-based Cargo Services Far East - 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