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."
