Dubai, United Arab Emirates – DB World and Global Investment Group Case de Depo et Plasman de Québec (CDBQ) today announced an investment of USD 5 billion (18 billion dirham) in three dbworld assets. »House in United Arab Emirates. CDBQ is investing US$2.5 billion in the Port of Jebel Ali, the Free Zone of Jebel Ali and the Parque Industrial Nacional through a new joint venture in which it holds approximately 22% and the remainder of the operation will be financed with debt. Other long-term investors will be able to buy additional shares of up to $3 billion. This transaction includes a total project cost of approximately US$23 billion for all three assets. The Port of Jebel Ali, the Jebel Ali Free Zone and the National Industrial Park together form an advanced infrastructure cluster with a strong track record of long-term growth. The three entities together form an integrated supply chain and world-class logistics ecosystem for more than 8,700 companies worldwide, serving more than 3.5 billion customers worldwide. The three assets generated initial revenues of US$1.9 billion in 2021. The three asset businesses will remain fully integrated into DB World Group, with day-to-day operations, dealers, service providers and employees. Sultan Ahmed Bin Suleim, President and CEO of DB World Group, said: “We are pleased to announce the expansion of our partnership with Case de Dipo et Plasman of Québec, as our joint venture has achieved significant success thanks to our experience and expertise. . . long stay. – Term of the investment horizon. We are confident that this new association will increase our assets and allow us to tap into the significant growth potential of the entire region. The transaction will also achieve our objective of reducing DB World’s net leverage to 4 times its EBITDA to net debt ratio, which was achieved despite the challenges of the pandemic and recent global economic conditions. Added: “The significant strengthening of our balance, the constant flexibility of our business and the diversification of our portfolio, as well as the constant focus on the solutions of the supply chain, will help us to achieve our objective of a solid investment qualification for the group. Overall, we believe this transaction provides a solid platform for UAE assets to achieve long-term growth objectives, while a strong balance supports the Group’s strategy of integrated supply chain solutions that will deliver sustainable value to all parties. dbworld stakeholders. For his part, Emmanuel Jaclotte, Executive Vice President and Director of Infrastructure at Case de Depot et Plaismann Québec, said: “The investment in Jebel Ali is an important example of the partnership between Case depo et Plaismann Québec and DB World. . It now includes four continents and eighteen container terminals. Today we are pleased to deepen our long-standing relationship with a leading global logistics and supply chain operator by investing in strategic business infrastructure that will play a crucial role in the development of the global economy. DB World is well positioned to offer innovative solutions to its customers around the world. We welcome the opportunity to invest in a large amount of advanced infrastructure, allowing Case de Depot et Plasman of Québec to explore new markets and fast-growing trade routes in Africa and South Asia. The first tranche of the deal, valued at $5 billion, is expected to close in the second or third quarter of 2022. The second tranche of the deal, valued at $3 billion, is expected to close in the fourth quarter. 2022 year.
Source: Al Ittihad
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