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P&O Ferries bought back by Emirati port operator
Dubai-based port operator DP World has bought back P&O Ferries for £322 million 13 years after selling it.
DP World bought the ferry operator’s parent, freight firm P&O, in 2006 but immediately sold some of its assets, including P&O Ferries, to its major shareholder Dubai World.
Now it has bought back the ferry operator together with logistics arm P&O Ferrymasters, which provides supply chain services to 19 European locations.
DP World chief executive Sultan Ahmed Bin Sulayem said: "P&O Ferries is a strong, recognisable brand and adds a best-in-class integrated logistics provider into our global portfolio.
"This transaction is in line with our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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