The arrival of DP World will improve the quality of towing services

Приход оператора DP World повысит качество буксирных услуг – эксперт

The company P&O Maritime in January 2018 start to work in Ukraine

Partner of the investment company SD Capital commented on the transaction on purchase by the Ukrainian company DP World of the towing operator LB Shipping operating in the port Yuzhny.

The release of the Ukrainian market of global port operator DP World will increase competition in the market of towing services in the ports of the country. This opinion was expressed by the partner at the investment company SD Capital Andriy Stavnitser in an interview with Left Bank, commenting on the acquisition of the Ukrainian company DP World of the towing operator LB Shipping operating in the port Yuzhny.

“More than 75% of transshipment in Ukraine is implemented by private stevedoring companies. I think many of them are tired of specificity of work with state enterprises of arm-twisting and full of unpredictability. I’m sure they will appreciate the opportunity to choose a towing operator, especially if you can make the best choice towing operator in the world,” explained Stavnitser.

He recalled that initially, DP World, together with the SD Capital jointly negotiated the acquisition from the state of the towing business of the port of Odessa for $50 million “unfortunately, the deal did not happen, though the Arab side and the Minister of transport Volodymyr Omelyan made to implement it everything I could”, – said the partner of the SD Capital.

Stavnitser hoped that the arrival in Ukraine of such a major multinational company will revive the Ukrainian private equity market. “Other global players will focus on DP World and interested in our country,” he said.

Recall, the company P&O Maritime (UK) 100% owned by DP World Group (UAE) in early January 2018 acquired a stake in LB Shipping. Co-investor in the transaction was the investment company SD Capital Stavnezer Andrew and Philip Grushko. The transaction amount was not disclosed, but experts call the output of the DP World the largest exit deal in the country over the past four years.