DP World is approaching $ 1.2 billion in logistics firm Syncreon

According to people familiar with the matter, DP World is Syncreon Holdings Ltd in a deal that could value a US supply chain services company at around $ 1.2 billion. Is approaching the acquisition of.

Dubai-based port operators have said they are in high-level discussions about the possibility of a close-knit acquisition of Syncleon, and are demanding that they not be identified as discussing confidential information.

Syncreon provides services such as warehousing, export packaging and fulfillment. The company was founded in 2007 when Dublin-based Walsh Western International acquired TDS Logistics.

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A financial restructuring took place in 2019, with lenders in control, including CVC Capital Partners and The Carlyle Group Inc.’s credit division. Owners of Sink Leon began seeking to sell their business based in Auburn Hills, Michigan earlier this year, Bloomberg News reported at the time.

People have said that no final agreement has been reached and negotiations may still be prolonged or collapsed. CVC and DP World spokespersons declined to comment. Carlyle and Syncreon representatives did not immediately respond to requests for comment.

DP World is one of the world’s largest operators of seaports and inland cargo terminals, from gateways in London and Antwerp to hubs in Africa, Russia, India and the Americas. In recent years, acquisitions have been underway to move into a more diverse and integrated logistics company.

Meanwhile, it continues to look for ways to reduce debt. People familiar with the matter said DP World is considering giving international investors the opportunity to invest in the Jebel Ali Free Zone, a valuable asset that has helped transform Dubai into a center of world trade. Says.

The sale of Syncreon will add to the $ 90 billion in transportation and logistics transactions announced this year, according to data compiled by Bloomberg. It almost tripled in the same period of 2020.

DP World is nearing an acquisition of Syncreon Holdings Ltd. in a deal that could value the U.S. supply chain services company at about $1.2 billion, according to people familiar with the matter.

Source : Autobala