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Saturday, July 21, 2018

Maritime Logistics Professional

October 2, 2014

DP World Acquires Dubai-based World Security FZE

 

DP World today announces that it has acquired World Security FZE for total consideration of $25.5 million.

World Security FZE provides security services and solutions to various corporates in Dubai including ports and free zones.

World Security FZE is a wholly owned subsidiary of Istithmar World Ventures LLC, which is part of the Dubai World Group which in turn is 100% owned by the Government of Dubai.

Dubai World is the majority shareholder and a related party of DP World under the UK Listing Rules. The acquisition is classified as a smaller related party transaction under Listing Rule 11.1.10.

Given that security is crucial to the safe and secure operation of Dubai’s ports, this was a unique opportunity to acquire a strategically important asset on commercial terms.

DP Worldsecurity servicesowned subsidiary