UAE-based port operator DP World, part of Port & Free Zone World FZE, has bought UK-based transportation and logistics company P&O Ferries for approximately $421 million.
DP World said that the new infusion makes it a majority shareholder in the Australian unit and sets its value at about $997 million.
Recently, DP World also agreed to buy 71.3 percent stake in Latin America’s Puertos y Logistica S.A.
In 2017, P&O Ferries generated about $1.4 billion in revenue.