6 Jun 2022
DP World flagship assets secure CAD6.3 billion investment from CDPQ, others
On June 6, 2022, DP World and CDPQ announced a significant joint venture investment in three of DP World's flagship assets in the UAE, including the Jebel Ali Port, Jebel Ali Free Zone, and the National Industries Park. Through the joint venture, CDPQ will hold approximately a 22% stake, with the option for other long-term investors to acquire an additional stake.
The Jebel Ali Port, known as a major international gateway and the second largest outside of Asia, the Jebel Ali Free Zone, the largest free zone in the Middle East, and the National Industries Park form a premier integrated ecosystem for global supply and logistics chains, hosting over 8,700 companies and serving more than 3.5 billion people.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, expressed that the partnership with CDPQ would strengthen DP World's assets and contribute to regional growth, aiming to reduce DP World's net leverage and achieve a strong investment-grade rating. Emmanuel Jaclot from CDPQ remarked on the strategic nature of the investment, acknowledging DP World's position to innovate in the logistics and supply chain sector and the opportunity to reach emerging markets.
The first tranche of the investment is anticipated to close in Q2 or Q3 of 2022, with a second tranche expected in Q4 of 2022. This move aligns with DP World's strategy to enhance their end-to-end supply chain solutions and drive long-term value.
