P&O A Takeover Target

Monday, October 31, 2005
THE UK's largest ports and ferries operator was reported to be a £3 billion takeover target of a Middle Eastern rival.

P&O could receive an approach from Dubai Ports World (DPW) as soon as this week after it hired Deutsche Bank to advise it on a bid, according to The Sunday Times.

The Middle Eastern firm is understood to have contacted banks about financing a bid for P&O, which owns 27 container terminals around the world including Southampton and Tilbury in the UK.

Takeover interest in UK ports firms has spiralled this year with Mersey Docks & Harbour - the owner of ports at Liverpool, Heysham and the Medway towns of Sheerness and Chatham - bought by Manchester-based Peel Holdings for £780 million.

PD Ports, whose PD Teesport site is the UK's second largest port by volume, confirmed earlier this month that it had also received a bid approach.

The Peninsular and Oriental Steam Navigation Company is one of the most iconic names in British business and a successful offer would end more than 160 years of corporate history.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World in Talks With Banks for $3b Loan

Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate,

Webinar to Examine 3D Laser Scanning in the Marine Industry

3D laser scanning has taken much interest in the maritime industry as it continues to find greater acceptance in the sector. In an up-close look at 3D laser scanning,

Royal Caribbean Profits Take a Hit

Royal Caribbean Cruises Ltd reported a much lower-than-expected quarterly profit as costs rose and passengers spent less onboard. Shares of the company, whose

Finance

Petroecuador Tenders to Buy High Octane Naphtha

State-run Petroecuador has launched two tenders to buy a total of 22 cargoes, 240,000 barrels each, of high octane naphtha RON 87 and 93 for delivery starting on May 21-23,

DP World in Talks With Banks for $3b Loan

Dubai-owned port operator DP World is in talks with lenders to triple the size of an existing $1 billion loan, as well as extend the lifespan and reduce the interest rate,

Norway's Oil Sector May Face More Project Cuts, Delays

More oil and gas projects in Norway could be put on hold because of rising costs, adding to a growing list of developments that have been delayed or called off,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1164 sec (9 req/sec)