DB World is reportedly close to finalizing a deal to acquire Cargo Services Far East from Hong Kong businessman John Lau. This move is expected to significantly increase the port operator’s presence in Asia. Sources have confirmed that DB World and Cargo Services Far East are currently working on the details of the acquisition, with an official announcement expected shortly. The deal is estimated to be worth between 300 to 400 million dollars, depending on the assets involved.
Cargo Services Far East was founded in 1989 by John Lau and provides various logistics services including sea freight, merchandise, and cold chain logistics. The company has a global presence with offices in China, the United Kingdom, South Africa, the United States, and Singapore. Despite Bloomberg’s report, a representative for Cargo Services Far East declined to comment on the potential acquisition, and DB World has not yet responded to requests for comment.
