Saudi Arabia-based Hassana Investment Company, the investment manager for the General Organisation for Social Insurance (GOSI), which owns one of the world’s largest pension funds, is to make an investment of approximately US$2.4 billion in three of DP World’s flagship UAE assets. This sale of a strategic minority stake in Jebel Ali Port, Jebel Ali Free Zone and National Industries Park follows on from an earlier transaction between the two parties that successfully closed in June 2022.
Hassana will invest in a new joint venture with DP World through which it will hold a stake of approximately 10.2% in the three UAE businesses. These will remain within the DP World Group and the companies stress that day-to-day operations, and staff, will not be affected.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, commented: “Hassana shares our long-term vision for the UAE assets, which have a long and sustained track record of growth and resilience. The transaction further strengthens our balance sheet, which, combined with the continued resilience of our business, diversity in our portfolio and focus on supply chain solutions, will support our target of achieving a strong investment-grade rating for the DP World group.”