D P World to buy three Transworld units

Global port operator D P World Ltd will close the deal on July 1 to buy three units of Dubai-based Transworld Group promoted by Indian businessman Ramesh Ramakrishnan, ten months after it was announced in August last year.
The acquisition will help the Dubai government owned firm bolster its Indian and global logistics play as part of a strategy to transform from a pure play container terminal operator into an integrated supply chain solutions provider.
The transaction was cleared by the Competition Commission of India on June 7.
D P World’s majority-owned subsidiary Unifeeder ISC FZCO has acquired 100 per cent of Avana Logistek Limited (including its subsidiary Avana Global FZCO) and Transworld Feeders Private Ltd (the containerized Indian coastal and EXIM feeder shipping operations of Mumbai-listed Shreyas Shipping & Logistics Ltd, excluding its container vessels and bulk ship operations).