DP World, Turkey group form equity partnership

Monday, 4 September 2023 00:00 - - {{hitsCtrl.values.hits}}

DP World (UAE) and Evyap Group (Turkey) have agreed to form a strategic equity partnership between DP World Yarimca Port and Evyap Port.

The partnership aims at enhancing and growing trade infrastructure by focusing on improving container port facilities and enhancing efficiencies in the key Marmara gateway market, a statement said.

By combining DP World’s global expertise and Evyap Group’s local stature as a business entity, the partnership will aim to enhance supply chain solutions in Turkey. The collaboration seeks to improve productivity, reduce turnaround times, ensure security, and broaden service offerings, benefiting Turkish trade, it said.

Following the completion of the transaction, DP World will own 58% of Evyap Port and Evyap Group will own 42% of DP World Yarimca. The new business will be named DP World Evyap Port. The transaction remains subject to regulatory approvals, it said.