Port operator DP World has bought controlling interest in two port services companies in Suriname, cashing in on an expected increase rise in trade volumes in the South American country, the company said in a statement on Wednesday, Ameinfo reports.
DP World did not disclose the financial terms for the acquisition of controlling stakes in Integra Port Services (IPS) and Suriname Port Services (SPS), but said it expects to close the transactions in the third quarter.
IPS holds a concession for a container and break-bulk terminal in Nieuwe Haven Port, while SPS owns a private break-bulk facility, both in Paramaribo. IPS is the largest terminal in Nieuwe Haven Port, the statement said.
DP World said it will have a management services agreement for both terminals.
State-owned conglomerate Dubai World owns 80 per cent of the port operator, which is considered one of its more profitable assets and began trading on the London Stock Exchange last month.
DP World did not disclose the financial terms for the acquisition of controlling stakes in Integra Port Services (IPS) and Suriname Port Services (SPS), but said it expects to close the transactions in the third quarter.
IPS holds a concession for a container and break-bulk terminal in Nieuwe Haven Port, while SPS owns a private break-bulk facility, both in Paramaribo. IPS is the largest terminal in Nieuwe Haven Port, the statement said.
DP World said it will have a management services agreement for both terminals.
State-owned conglomerate Dubai World owns 80 per cent of the port operator, which is considered one of its more profitable assets and began trading on the London Stock Exchange last month.