DP World Limited DP World Acquires Dubai-Based World Security FZE (2360T)
October 02 2014 - 2:00AM
UK Regulatory
TIDMDPW
RNS Number : 2360T
DP World Limited
02 October 2014
DP WORLD ACQUIRES DUBAI-BASED WORLD SECURITY FZE
Dubai, UAE 02 October 2014: DP World today announces that it has
acquired World Security FZE for total consideration of $25.5
million.
World Security FZE provides security services and solutions to
various corporates in Dubai including ports and free zones. World
Security FZE is a wholly owned subsidiary of Istithmar World
Ventures LLC, which is part of the Dubai World Group which in turn
is 100% owned by the Government of Dubai.
Dubai World is the majority shareholder and a related party of
DP World under the UK Listing Rules. The acquisition is classified
as a smaller related party transaction under Listing Rule
11.1.10.
Given that security is crucial to the safe and secure operation
of Dubai's ports, this was a unique opportunity to acquire a
strategically important asset on commercial terms.
- END -
Investor Enquiries
Redwan Ahmed Jasmine Lindsay
Investor Relations Investor Relations
DP World Limited DP World Limited
Direct: +97148080842 Direct (UAE): +971 48080812
Mobile: +971505541557 Mobile (UAE): +971 504220405
redwan.ahmed@dpworld.com Jasmine.lindsay@dpworld.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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