Cargo Business Newswire

Tuesday, March 24, 2015

DP World acquires port infrastructure firm EZW for $2.6B

Port operator DP World has announced the closing of the acquisition of Dubai industrial and logistics infrastructure firm Economic Zones World from Port and Free Zone World for $2.6 billion.

EZW ‘s key asset is the Jebel Ali Free Zone (JAFZ), one of the largest free zones in the Gulf Cooperation Council. It is widely recognized, along with DP World, as a key driver of the United Arab Emirate’s rapid economic growth.

"We are very pleased to have reached the close of this acquisition, which is compelling from both a

strategic and financial perspective," said HE Sultan Ahmed Bin Sulayem, chairman of DP World. "This will allow us to enhance our position as the leading logistics hub in the Middle East region, accelerate growth and deliver shareholder value."

The purchase comes during a significant growth phase in port capacity at Jebel Ali and a strong economic outlook for Dubai and the wider GCC region.

For more of the Arabian Business story: www.arabianbusiness.com