The TIS Group has fully acquired a 51% stake in the container terminal located at the Port of Pivdennyi from the global container operator DP World. In addition, the Ukrainian company has regained control over the tug business of P&O Maritime Ukraine.
This is reported by Finway
Details of the Agreement Between TIS and DP World
The agreement was reached after five years of partnership between TIS Group and the international logistics corporation DP World, headquartered in Dubai. As a result of the agreements, DP World transferred its 51% stake in the terminal and the associated marine service business back to TIS. It is known that all necessary regulatory approvals for the completion of the transaction have already been obtained, and the process has been finalized.
“After five years of partnership, the Ukrainian port operator TIS Group and DP World, a global leader in logistics and trade headquartered in Dubai, signed an agreement under which DP World sold its 51% stake in the container terminal in Pivdennyi, Ukraine, as well as the associated marine services business back to TIS in accordance with DP World’s regional and global strategy,” the statement said.
History of the Partnership and Future Plans
The partnership between TIS and DP World began in June 2020 when DP World acquired a stake in the TIS container terminal. This agreement marked the second joint initiative between the companies—the first was the launch of the tug operator P&O Maritime Ukraine. According to representatives of DP World, the company continues to explore opportunities for business development in Ukraine, despite the sale of its stake in the Pivdennyi terminal. Meanwhile, TIS has chosen to refrain from commenting on the completed agreement.