|21 January, 2020

Dubai's DP World takes 44% stake in Swissterminal Holding

The Mayer family, who founded the business, will remain a majority shareholder, the statement said.

Photo used for illustrative purpose. General view of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018.

Photo used for illustrative purpose. General view of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018.

REUTERS/Hamad I Mohammed

DUBAI- Dubai state controlled port operator DP WorldDPW.DI has taken a 44% stake in Swiss container terminal operator Swissterminal Holding AG, the Dubai government said on Tuesday.

The Mayer family, who founded the business, will remain a majority shareholder, the statement said.

Financial terms were not disclosed.

(Writing by Alexander Cornwell, reporting by Saeed Azhar, editing by Louise Heavens) ((Alexander.Cornwell@thomsonreuters.com;))

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