The deal includes the operations of Mumbai-listed Shreyas Shipping excluding vessels and bulk business
Dubai-based global port operator DP World Ltd has acquired three business units of Transworld Group promoted by Indian businessman Ramesh Ramakrishnan as it looks to accelerate its vision to become the leading end-to-end supply chain solutions provider.
DP World’s subsidiary Unifeeder Group will acquire (subject to regulatory approvals) three business units of Transworld Group — Transworld Feeders FZCO, Avana Logistek Limited (including its subsidiary Avana Global FZCO), and Transworld Feeders Pvt Ltd (the containerised Indian coastal and EXIM feeder shipping operations of Shreyas Shipping and Logistics Ltd, excluding vessels and bulk operations), a Transworld official said.
The deal value has not been disclosed.
Transworld Feeders FZCO and Avana Global FZCO are leading independent feeder and NVOCC (Non-Vessel Operating Common Carriers) operators, offering container feedering services and regional trade solutions connecting a wide range of ports in the Middle East, Indian Subcontinent and Far East through their dense network.
The central hub port at Jebel Ali (UAE) run by DP World plays a pivotal role for a large part of the services. Both the companies have a strong presence within trade routes west of the Indian Subcontinent and complement the recent acquisition by DP World of Feedertech and Perma Shipping, which have a strong market position in the trade routes towards the east of the Indian Subcontinent.
DP World in talks to buy Indian flag carrier Shreyas Shipping
Transworld Feeders Pvt Ltd and Avana Logistek Limited maintain a comprehensive coverage of all main ports, terminals and inland destinations in India. Avana Logistek Limited also provides first mile and last-mile delivery solutions within the Indian domestic market. Both are market leaders in providing logistic solutions to cargo owners, traders, forwarders, and shipping lines. Further, they will both complement and expand the ability to offer a broader range of India-focused solutions. These new entities will continue to operate an asset-light structure as per the Unifeeder model, which delivers greater flexibility and efficiency for customers.
“These bolt-on acquisitions give us complete coverage in fast-growing markets between East Africa, Gulf, and the wider Indian Subcontinent. Transworld Feeders and Avana are both strong and well-known brands that handle approximately 1.2mn TEU per annum and operate in fast-growing markets. Our Unifeeder ISC (Indian Subcontinent) platform will continue to operate an asset-light, independent common-user platform, as we continue to build the Unifeeder brand, which is best known for efficient connectivity, flexibility, and reliability,” Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said.
“Our strength lies in our strong customer relationships, local expertise and network across the Indian sub-continent, which have allowed us to deliver an efficient product to the market. The acquisition of three of our portfolio companies will provide DP World and Unifeeder ISC a robust platform to jointly deliver a more complete range of solutions to our customers,” Ramesh Ramakrishnan, Chairman of Transworld Group and Shreyas Shipping and Logistics Limited, said.
Source:- Hindu Business Line