Dubai-based terminal operator group DP World has signed an agreement to buy the entire share capital of the Australian company Silk Logistics Holdings under which the shareholders of the group Australian logistics will receive 2.14 Australian dollars for each share in their possession, which gives Silk a worth A$174.5 million (A$115 million) US dollars). The transaction is expected to be completed during the first half of the next year.

The board of directors of the Australian company has unanimously approved support for the agreement with DP World and three shareholders who together control about 46% of the capital Silk (Tor Asia Credit Master Fund, 18.7%; Karma Beverages, 13.2% together with JAS Logistics Consulting, 0.3%; BBJJ Investments, 13.3%) announced their participation in the sale project of the company.

Silk, which mainly operates logistics services to support national ports and is active in the contract segment is present in Australia with 21 logistics hubs and 25 Warehouses. DP World is present in Australia through the a wholly owned subsidiary DP World Australia whose port terminals handle about 10% of the traffic of the containers in Australian ports.