P&O Maritime acquires Spanish marine services operator Reyser

Reyser has long-term agreements in 10 ports in Spain and contracts with two international liquefied natural gas (LNG) terminals at Saint John (New Brunswick, Canada), and Point Fortin (Trinidad and Tobago).

Officials from P&O Maritime and Bergé y Cía at the signing of the agreement for the acquisition of Reyser, in Spain.
Officials from P&O Maritime and Bergé y Cía at the signing of the agreement for the acquisition of Reyser, in Spain.

P&O Maritime announced its acquisition of Reyser from Bergé y Cía, S.A.

The transaction value is below five percent of DP World’s net asset value. P&O Maritime is a DP World fully-owned subsidiary. Reyser is a Spanish company providing maritime services internationally since 1966.

Reyser has long-term agreements in 10 ports in Spain and contracts with two international liquefied natural gas (LNG) terminals at Saint John (New Brunswick, Canada), and Point Fortin (Trinidad and Tobago).

The company’s services include harbour towage, mooring, bunkering, diving and environmental support. It owns 151 vessels, including 20 tug boats, 53 mooring boats, five bunkering vessels and 73 ships conducting environmental work.

Sultan Ahmed Bin Sulayem, chairman and CEO, DP World Group, said: “We are delighted to make this acquisition, which underlines further development of the Group’s maritime services business. As a global trade enabler, we have been developing it globally spearheaded by the world renowned P&O Maritime brand to complement our core business of ports and terminals. This is all part of our broader strategy to grow complementary sectors in the global supply chain such as industrial parks, free zones and logistics, supported by new technologies, adding value for all our stakeholders.”

Rado Antolovic, managing director, P&O Maritime, said: “This is a landmark deal in our more than 50-year history, underlining our global intentions to provide maritime services across diverse markets around the world.”

“The acquisition allows us to consolidate our market position in Spain while securing entry in new geographies and markets, offering significant scope to diversify and grow our business. We are confident about the medium- to long-term growth potential of this business and our ability to drive sustainable value for all stakeholders,” added Antolovic.

Newsletter

Most Popular

Digital Edition

Oil & Gas Middle East - June 2020

Subscribe Now