Dubai World-owned Port and Free Zone World, the holding company for Dubai-based ports operator DP World, offered to acquire the remaining 20% stake in the company, returning it to private ownership at a $13.9bn valuation. Each DP World share will be acquired at $16.75, representing a 29% premium on the market closing price of $13 on February 16. "The global ports and logistics industry has been undergoing a significant transition as a result of the consolidation of the customer base and the vertical integration of several competitors. DP World must be able to continue responding effectively to this rapidly changing landscape and to invest in the future. Returning to private ownership will free DP World from the demands of the public market for short term returns which are incompatible with this industry, and enable the company to focus on implementing our mid-to-long-term strategy to build the world’s leading logistics provider, backed by our globe-spanning network of ports, economic zones, industrial parks, feeders, and inland transportation," Sultan Ahmed bin Sulayem, DP World Chairman and CEO.