Hassana takes minority stake in three DP World assets in UAE

Based in Saudi Arabia Hassana Investment Company has signed an agreement to invest $2.4 billion exist DP world Three flagship UAE assets in exchange for minority stakes.

Hassana is an investment manager at the General Administration of Social Insurance (GOSI), a government agency in Saudi Arabia.

Hassana’s investment closed on Dec. 19, and the three assets have an enterprise value of $23 billion.

The company will invest through a joint venture (JV) with Dubai-based DP World.

The joint venture will hold nearly 10.2 percent of three assets in the UAE, including the Jebel Ali Port, the Jebel Ali Free Zone and the National Industrial Park.

All assets together form an integrated ecosystem that supports the logistics and supply chains of more than 9,000 companies worldwide.

In 2021, Jebel Ali Port, Free Zones and National Industrial Parks are projected to generate USD 1.9 billion in revenue.

Sultan Ahmed Bin Sulayem, Chief Executive Officer and Group Chairman of DP World, said: “This transaction further strengthens our balance sheet, combining the continued resilience of our business, the diversity of our product portfolio and our focus on supply chain solutions, Will support our goal of achieving a strong investment-grade rating from DP World.”

This is the second sale following the $5 billion sale of a strategic minority stake in DP World’s UAE assets in early June.

The latest transaction will not affect the day-to-day operations, customers, service providers and employees of the three assets as they will continue to remain combined businesses under DP World.

Saad bin Abdulmohsen Al-Fadly, CEO of Hassana, said: “This partnership underscores our focus and strategy for investing in critical infrastructure assets in the region, which we believe will deliver long-term sustainable returns.”