In January 2018, P&O Maritime, which is fully owned by the world’s largest port operator DP World Group, began its work in Ukraine. Having acquired an incumbent local business, the company will offer towing services in the Yuzhny seaport, investment firm SD Capital’s press service announced, reported by LIGA.net.
P&O Maritime acquired a Ukraine-based towing company LB Shipping, with SD Capital acting as a co-investor in the deal. The agreement on the acquisition and management was signed by SD Capital’s partner Andriy Stavnitzer and DP World Group’s general director Sultan Ahmed bin Sulayem in November 2017 after Ukraine’s President Petro Poroshenko visited the corporation headquarters in the United Arab Emirates.
According to Stavnitzer, the acquisition of a Ukrainian business by such a giant as P&O Maritime is the largest exit deal in the country in the recent years. “This is a great start of the year for the entire investment market of Ukraine and for the private-equity market in particular”, SD Capital’s partner told.
Established in Great Britain in 1834, P&O Maritime is a global port services operator. The company offers various port services across the world and has its own fleet of tugboats, mooring ships, research and development ships, passenger and cruise ships. DP World Group acquired P&O Maritime in 2006.
Headquartered in the UAE’s port Jebel-Ali, DP World Group is among the world’s largest port operators. The corporation operates 78 sea and ground terminals in 40 countries of the globe, while also managing 50 adjacent businesses.
