DP World to acquire majority stake in South Korea's Unico Logistics
DP World, the Dubai- based provider of worldwide smart end-to-end supply chain logistics, has agreed to acquire a 60 per cent shareholding in UNICO Logistics Co. Ltd., the company said in its release.
The transaction, subject to regulatory clearances, is expected to close in Q4 2020, and represents another strategic step in DP World's vision to build an integrated suite of service offerings that will connect directly with end-customers and beneficial cargo owners to remove inefficiencies in the supply chain and accelerate trade growth.
Established in 2002 by H.J. Park and headquartered in South Korea, UNICO has a global footprint of 25 subsidiaries in 20 countries and is one of the largest independent NVOCC (Non-Vessel Operating Common Carrier) in South Korea. UNICO is a multimodal transport specialist with strong market position in the fast-growing transcontinental rail freight market between East-Asia and Central-Asia and Russia, in particular on the strategically important Trans-Siberian Railway (TSR) and Trans China Railway (TCR).
The acquisition is in line with DP World's global strategy to grow as a smart supply chain solutions provider and will provide a platform to drive synergies between UNICO and DP World operations in the Asia Pacific and European regions, while also continuing the expansion of logistics capabilities within DP World's portfolio. In addition, UNICO's expertise in handling automotive logistics is aligned with DP World's strategic focus on this sector.
About DP World
DP World is the leading provider of smart logistics solutions, enabling the flow of trade across the globe. Its comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.
DP World delivers these services through an interconnected global network of 123 business units in 54 countries across seven continents, with a significant presence both in high-growth and mature markets.
