DP World Australia has entered into a binding Scheme Implementation Deed for the acquisition of the issued share capital of Silk Logistics Holdings Limited via a Scheme of Arrangement with a cash offer of A$2.14 per share.
The transaction values the equity of Silk Logistics, a port-to-door logistics services provider which operates 21 logistics hubs and 25 warehousing sites across five Australian states, at approximately A$174.5 million (around US$115 million).
This transaction is subject to shareholder approval of Silk Logistics and standard closing conditions, including necessary regulatory approvals, and is expected to be completed in the first half of the next year.
“This acquisition aligns with our strategy to deliver complementary logistics solutions for a broad customer base across Oceania,” pointed out Glen Hilton, CEO and Managing Director of Asia Pacific at DP World.
