DB World Australia announces its acquisition of Silk Logistics

DB World Australia, a subsidiary of DP World, has announced that it has concluded a planned implementation contract, a formal binding agreement used in acquisitions in Australia, to acquire 100% of the issued share capital of Silk Logistics Holdings Limited from Through a plan of arrangement with a cash offer of A$2.14 per share. The deal values ​​Silk Logistics’ shares at approximately A$174.5 million.

The transaction is subject to Silk Logistics shareholder approval and standard closing conditions, including necessary regulatory approvals, and is expected to be completed in the first half of 2025.

Silk Logistics is a group specialized in providing comprehensive logistics services from the port to the customer’s door and operates 21 logistics centers and 25 storage sites in five Australian states. Silk Logistics partners with some of the world’s leading brands to provide cost-effective services to its customer base in Australia.

The Group operates two main business segments: Port Logistics: seamless transport services from docks, between major ports in Australia, and contract logistics which includes warehousing and multimodal distribution solutions to support complex supply chain needs.

DB World Australia is a subsidiary of DP World, a global leader in transportation and logistics services, handling approximately 10% of global containerized trade. DB World Australia operates 4 container terminals and 3 container parks – in Brisbane, Sydney, Melbourne and Fremantle – as well as distribution centers and warehouses.

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World Group, said: “DP World’s acquisition of Silk Logistics represents an important step towards strengthening our integrated logistics capabilities and expanding the scope of our services. This step enhances The strategy also reflects our commitment to providing customized, integrated and seamless solutions to our customers, while providing sustainable value to all parties.”

Glenn Hilton, CEO and Managing Director, Asia Pacific, DP World Group, said: “We are delighted that DB World Australia has received this opportunity, and welcome Silk Logistics to our portfolio. This acquisition is in line with our strategy of “In providing value-added logistical solutions to a wide base of customers throughout Oceania.” “Combining DB World Australia’s terminal operations with Silk Logistics’ value-added services will enhance our ability to deliver enhanced solutions to customers,” Hilton added.