Saudi Arabians take over part of DP World terminals

Hassana, a Saudi investment fund, has bought into the Jebel Ali and Dubai port operations for $2.4 billion. With the buyback, the investment fund has acquired some 10% of the Jebel Ali Freezone, Jebel Ali Port and the National Industries Park. These operations are described by DP World itself as showpieces, which form a world-class integrated ecosystem. Last year, these terminals accounted for $1.9 billion in sales. With Hassana’s investment, the value of the three companies is now estimated at about $23 billion. This investment does not affect the day-to-day operations of the terminals, as it remains a part of DP World.

DP World reported this summer that a Canadian party, CDPQ, had bought itself in for $5 billion, giving it a 22% stake in the same three companies. It was also brought out here at the time that there was still room for other investors to buy in for $3 billion. Dubai, one of the seven united Arab Emirates, holds the majority stake in DP World. CEO and chairman Sultan Ahmed Bin Sulayem leads the group, which is responsible for a container throughput of 78 million TEUs worldwide with several terminals.