DB World and Hasana Investment Company, the investment manager of the General Social Insurance Organization in the Kingdom of Saudi Arabia, which owns one of the largest pension funds in the world, announced an investment of approximately $2.4 billion, or the equivalent of 9 billion Saudi Riyals, in three of DB World’s main operations are in the United Arab Emirates.
This investment will represent the second tranche of the sale of a minority stake in the group’s shares in Jebel Ali Port, Jebel Ali Free Zone and National Industries Park, following the successful closure of the first tranche in June 2022.
Hassana will invest approximately $2.4 billion in a new joint venture with DB World, which will achieve economic interest in a share that represents about 10.2 percent of the UAE’s three assets. The total investment value of these assets is expected to reach approximately US$23 billion.
Together, Jebel Ali Port, Jebel Ali Free Zone and National Industries Park form a world-class infrastructure package with a strong track record record of long-term growth. Together, the three entities form an integrated supply chain and world-class logistics ecosystem for more than 9,000 businesses worldwide, serving more than 3.5 billion global consumers. The three businesses generated initial revenues of $1.9 billion in 2021.
Following the close of the second tranche transaction on December 19, 2022, the business of the three businesses will remain fully integrated into the DBworld group, with day-to-day operations, customers, service providers and employees unaffected.
Saad bin Abdul Mohsen Al-Fadhli, CEO of Hasana Investment Company, said, “The company’s business is expected to continue to grow in future due to a combination of favorable demographic factors, the growth of the region’s economies and large investments in it, as well as our expectations of a boom in trade between countries in via of development of Asia and Africa.” seek to maximize returns on the institution’s investments in based on an acceptable level of risk.
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