DP World, NIIF strengthens partnership, invest in India

DP World and National Investment and Infrastructure Fund (NIIF) announce broadening of existing partnership, with NIIF Master Fund investing primary capital of US $300 million for a shareholding of approximately 22.5 per cent in Hindustan Ports Private Limited (HPPL), stated a release. HPPL is the wholly owned subsidiary of DP World. With this transaction, which is the Master Fund’s single largest investment, NIIF’s investment under this partnership will reach US$500 million. The transaction is subject to customary completion conditions and is likely to close by Q1 CY2023.