Linklaters’ advises DP World plc on acquisition of P&O Ferries holding company
Linklaters advised DP World PLC on the acquisition of the holding company of P&O Ferries and P&O Ferrymasters (together P&O Ferries), from Dubai World for a total consideration of £322 million.
P&O Ferries is a pan-European integrated logistics business consisting of a market leading roll-on roll-off (Ro-Ro) ferries operation and a European transportation and logistics solutions provider, P&O Ferrymasters. P&O Ferries operates a fleet of 21 vessels on the Short Sea, North Sea and Irish Sea sectors across 11 ports whilst P&O Ferrymasters provides supply chain solutions in 19 European locations.
The acquisition is subject to customary completion conditions and is expected to close in the first half of 2019.
This transaction follows a number of other recent transactions that Linklaters has advised DP World on, including its acquisitions of Unifeeder and Dubai Maritime City and Drydocks World.
The team was led by UAE based Corporate partner Nicholas Edwards, Associate Claire Neil and Associate Julianna Halbeck.