DP World, marine terminals operator, and CDPQ, a global investment group, announced today an investment of $5 billion in three of DP World’s flagship UAE assets.
CDPQ will invest $2.5 billion in the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park through a new joint venture in which it will hold a stake of approximately 22%, with the remainder of the transaction being financed by debt.
“This investment in Jebel Ali is another great illustration of the partnership between CDPQ and DP World, which now spans four continents and eighteen terminals. Today, we are pleased to deepen our long-standing relationship with a world-class logistics and supply chain operator by investing in this strategic trade infrastructure, one that will play a pivotal role in the evolution of the global economy. DP World is well positioned to provide innovative solutions to their customers worldwide, and we welcome this opportunity to invest in a best-in-class group of infrastructure that provides CDPQ with exposure to new fast-growing markets and trade routes in Africa and South Asia,” Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ, said.
Other investors will have the opportunity to acquire an additional stake of up to $3 billion. According to the statement, the transaction implies a total enterprise value of approximately $23 billion for the three assets.
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