Caisse de dépôt et placement du Québec agree to acquire stake in Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park of DP World Limited (UNQ-ARE:DPW) for $5 billion on June 6, 2022. Caisse de dépôt et placement du Québec will invest $2.5 billion in the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park through a new joint venture in which it will hold a stake of approximately 22%, with the remainder of the transaction being financed by debt. The transaction implies a total enterprise value of approximately $23 billion for the three assets. Other long-term investors will have the opportunity to acquire an additional stake of up to $3 billion. The three assets will remain fully consolidated businesses within the DP World Group and day-to-day operations, customers, service providers and employees will not be affected. Tranche 1 ($5 billion) of the transaction is expected to close in the second or third quarter of 2022.

Deniz Tas, Tariq Imam, Daniel Boyle, Graham Brewer, Robin Abraham, Stuart Ure, Alekhya Prakash, Richard Kalaher, Julian Feiner, Mohamed Hamra-Krouha, Michael Pearson, Andre Duminy, Greg Olsen, Paul Coates, and Jack Hardman of Clifford Chance acted as legal advisors to DP World. DP World internal legal core team led James Pointon, Louisa Boyack and Angela Wang worked closely with Ian Le Pelley of Addleshaw Goddard LLP acted as legal advisors to DP World. Canaccord Genuity (Dubai) Ltd., Citigroup Global Markets Inc., Deutsche Bank Aktiengesellschaft (XTRA:DBK), Emirates NBD Bank PJSC (DFM:EMIRATESNBD), First Abu Dhabi Bank P.J.S.C. (ADX:FAB), J.P. Morgan Securities plc and Rajesh Singhi, Shikhar Jain, Mohit Singh, Nikhil Joshi, Kapil Jobanputra, Bidu Prakash Das, Jamie Odgers, Kenny Ong and Abdul Fadil Hameed of Standard Chartered Bank PLC acted as financial advisors to DP World.

Caisse de dépôt et placement du Québec completed the acquisition of 21.9% stake iin Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park of DP World Limited (UNQ-ARE:DPW) on June 30, 2022