UAE's DP World takes 44% stake in Europe's Swissterminal Holding
Partnership is expected to expand the companies' terminal networks, increase efficiency, grow their service portfolio
UAE-based global terminal operator DP World had acquired 44% in Frenkendorf-headqaurtered Swissterminal Holding, with Mayer family that owns the company being the majority shareholder with remaining 60%.
According to Dubai Media Office, both the companies have agreed to not disclose the value of the transaction.
Swissterminal operates additional locations in Zurich-Niederglatt, Basel-Birsfelden, Basel-Kleinhueningen, and Liestal. The company’s terminals are well connected to Europe's container ports in Rotterdam and Antwerp, and the ports of La Spezia, Genoa, Ravenna, and Trieste south of the Alps.
The Swissterminal and DP World partnership is expected to expand the companies' terminal networks, increase efficiency, and grow their service portfolios.
Following the acquisition, structural changes are not planned within the companies, and Roman Mayer will continue to serve as Swissterminal's chief executive officer.
Speaking on the deal, managing director of DP World Logistics, Dr Martin Neese, said: "The strategic partnership with Swissterminal strengthens DP World's position as a leading provider of inland supply chain solutions. Swissterminal is a perfect match to our existing inland and seaport operations in Europe.”
Meanwhile, Roman Mayer said: "By merging our family-owned business with such a large, international organisation which shares our long-term vision, we will be well-equipped to deliver long-term sustainable growth and cater to a changing industry landscape.”