Dubai Ports acquires majority stake in South Korean Unico
Dubai Ports World, the leading global provider of intelligent integrated logistics solutions with headquarters in Dubai, has agreed to acquire a 60% stake in Unico Logistics Services.
Dubai Ports World majority stakes
The deal is expected to be completed in the last quarter of 2020 after obtaining the necessary regulatory approvals, in what constitutes a new strategic step towards achieving the vision of “Dubai Ports World” by providing an integrated network of services directly related to the final customers and cargo owners, in the context of its continuous endeavor to get rid of Shortcomings in supply chains and accelerate commercial growth.
Unico Logistics Services
It is headquartered in South Korea, was founded in 2002 by H.E. Ing. Park, and the company has a wide global presence thanks to its twenty-five branches spread in 20 countries, and is currently one of the largest independent companies in South Korea in the category of sales agents, packaging and transporting containers to ports “NVOCC”.
The company has proven itself in the field of multi modal transport, and has a strong presence in the rail transport market between the regions of East and Central Asia and Russia, specifically “Siberian railways” and “China transit railways,” which are regions of strategic importance.
Dubai Ports acquisition over Unico
This acquisition comes within the framework of the strategic objectives of “Dubai Ports World” to be one of the largest providers of smart solutions for supply chains in the world, and it is expected to lead to strengthening cooperation between the companies in Europe and the Asia Pacific region, as well as increasing the logistical capabilities of “Dubai Ports World” “. It will also benefit from Unico’s experiences in the field of car shipping, especially as this sector is receiving strategic attention from the company.
Commenting on this acquisition, Sultan Ahmed bin Sulayem, Chairman and CEO of Dubai Ports World Group said: “Dubai Ports World aspires to become a leading provider of integrated solutions to the supply chain. There is no doubt that the integration of “Unico” in our global network will help us To improve the services we provide to our customers in South Korea and other markets, as well as to enhance our logistical capabilities, along with the various marine services we provide and our global network of ports and container terminals. ”
For his part, H. said. Ing. Park, President and CEO of “Unico”: “Unico has achieved remarkable growth over the past years, and we are proud of this great success that we have achieved, and we believe that our partnership with DP World will allow us to reach a new level of growth. As part of the “Dubai Ports World” network, we will be able to achieve greater development by benefiting from the Group’s close relationships with end-customers and from its extensive global network, and together we look forward to further prosperity in the future. “