Dubai-based provider of worldwide smart end-to-end supply chain logistics, DP World, will acquire agreed to acquire a 60 percent stake in UNICO Logistics Co. Ltd.
The transaction is expected to close in Q4 2020 subject to regulatory clearances. It serves as another strategic step in DP World’s vision to create an integrated suite of service offerings that will connect directly with end-customers and cargo owners to remove wastefulness in the supply chain and accelerate trade growth.
Headquartered in South Korea, UNICO which was established by H.J. Park in 2002, has a global footprint of 25 subsidiaries in 20 countries and is one of the largest independent NVOCC (Non-Vessel Operating Common Carrier) in South Korea.
UNICO is a multimodal transport specialist with a strong market position in the fast-growing transcontinental rail freight market between East-Asia and Central-Asia and Russia, in particular on the strategically important Trans-Siberian Railway (TSR) and Trans China Railway (TCR).
The deal will provide a platform to create synergies between UNICO and DP World operations in the Asia Pacific and European regions, while also continuing the expansion of logistics capabilities within DP World’s portfolio. In addition, UNICO’s expertise in handling automotive logistics is aligned with DP World’s strategic focus on this sector.
“DP World’s vision is to become the leading end-to-end supply chain solutions provider. By integrating Unico into our worldwide network we will be able to offer better service to our customers in South Korea and beyond. These new services further strengthen our logistics capabilities, which we are combining with our maritime services operations and our worldwide network of ports and terminals.”
H.J. Park, President and CEO, UNICO Logistics Co. Ltd., said: “UNICO has delivered significant growth over the years and we are proud of our success but we believe this partnership with DP World will allow us to take the business to the next stage of its growth. Being part of DP World will allow us to develop further from the Group’s deep relationship with end-customers and a wide global network. We look forward to a prosperous future together.”