December 21, 2022
Hassana Investment Company - the investment arm of the General Organization for Social Insurance - announced the signing of an agreement to acquire a strategic stake of about 10.2% in the assets of the "DP World" group, the leading provider of integrated smart logistics solutions in the United Arab Emirates aimed at enabling trade flow around the world, at a value amounted 2.4 billion USD (9 billion Saudi riyals) in three strategic assets (Jebel Ali Port, Jebel Ali Free Zone and National Industries Park).
Jebel Ali Port, the Free Zone and the National Industries Park are considered one of the best infrastructure assets in the world with a long record of sustainable growth. The three assets represent an integrated system according to the best international standards, as it supports supply chains and logistics services for more than 9,000 companies around the world. Also, it serves more than 3.5 billion consumers, and in 2021, these assets achieved revenues that exceeded the equivalent of 7 billion Saudi riyals.
Mr. Saad bin Abdul Mohsen Al-Fadhli, CEO of Hassana Investment Company, said, "We are pleased to announce this qualitative partnership with the DP World Group," saying: "Through this investment, we look forward to strengthening the investment portfolio with infrastructure assets with a high level of global performance and a history full of achievements over the years, so that this investment is an extension of Hassana Company’s strategy to invest in vital infrastructure assets in the region with sustainable returns in the long term, as it is expected that the company’s business will continue to grow in the future due to the combination of favourable demographic factors and the growth of the region’s economies and major investments. In addition to the expectations of a fruitful trade exchange between developing countries in Asia and Africa.
Mr. Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World Group, also expressed his happiness to announce the partnership with Hassana Investment Company as it is the investment arm of one of the largest pension funds in the world, which shares with us our optimistic vision for the future of these assets, who have proven their ability to sustainable growth and solid performance. Also, he mentioned that this partnership is considered a supportive step for the future of these assets and enabling them to maintain growth, and this transaction will add the strength for the company balance and will support the achievement of a strong credit rating for the group through the strong performance of its business, the diversification of its portfolio and its focus on integrated supply chain solutions worldwide.
It is noteworthy that Hassana Investment Company is the investment arm of the General Organization for Social Insurance, and it relies in its management of the investment organisation’s assets on a long-term investment strategy that is constantly reviewed and updated, through which it seeks to maximise returns on the organisation’s investments according to an acceptable level of risk.