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FINANCIAL NEWS
Dubai’s P&O Maritime acquires stake in Spain’s Repasa
12 Sep 2014
(MENAFN) P&O Maritime, a subsidiary of Dubai’s DP World, announced acquiring a majority stake in Spain’s Remolcadores de Puerto y Altura (Repasa), Arabian Business reported.
According to a statement made by P&O Maritime, the deal will create a new joint venture company under the P&O Maritime brand.
This joint venture is expected to expand P&O Maritime’s presence to include the Mediterranean and West Africa as well as boosting its capabilities regarding liquefied natural gas.
“We have identified the LNG marine sector as one of our core businesses that will help us expand in the future,” Managing Director of P&O Maritime said in the statement.
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