[020117.EN.BIZ] Dubai's DP World to Raise Stake in Busan Container Terminal to 66pc

DP World is acquiring an additional 23.94 per cent stake in South Korea's Pusan Newport Company Ltd (PNC) from Samsung Corporation & Subsidiaries, effectively raising the global port operator's holding in PNC to 66 per cent.

PNC is the largest terminal in the Port of Busan with 5.25 million TEU capacity, handling 34 per cent of the new port volumes.

Said DP World CEO Sultan Ahmed Bin Sulayem: "We expect the Port of Busan to remain an important part of our global network and this investment further underlines our commitment to South Korea.".

Source : HKSG.