DP WORLD Australia now owns 100% of Silk Logistics Holdings.
The transaction has been completed through a scheme of arrangement that has been fully implemented making Silk a private subsidiary of DP World Australia.
The deal, approved by a majority of Silk shareholders on 1 August 2025 and the Supreme Court of New South Wales on 6 August 2025, has been implemented on 18 August.
Silk shareholders have been paid $2.14 for each Silk share.
The move means a new board for Silk with the resignation of Terry Andrew Sinclair, Brendan Boyd, Cheryl Loretta Hayman, Louise Thurgood-Phillips and Stephen Fletcher Moulton as directors of Silk and the appointment of Peter James Conomos, Nicolaj Noes and Jason Varsamidis as directors.
Melanie Leydin has resigned as company secretary of Silk and Amelia Mitchell has been appointed as company secretary.
Trading in Silk shares was suspended from 6 August and will apply for its removal from quotation on the official list of ASX from close of trading on Tuesday, 19 August.
The move consolidates DP World’s logistics footprint in Australia, likely integrating Silk’s warehousing and freight capabilities into its broader port and supply chain operations.
The global logistics powerhouse handles around 10% of global containerised trade, and its strategy has increasingly focused on end-to-end supply chain integration with moves into inland logistics, warehousing and distribution.
DP World already operates container terminals in Brisbane, Sydney, Melbourne and Fremantle as well as inland distribution centres.
The Silk acquisition strengthens DP World’s West Australian presence and adds road transport and warehousing capabilities that were previously outside DP World’s scope.
The ACCC has reviewed the merger and found it unlikely to substantially lessen competition, despite concerns about potential preferential treatment for Silk over rival transport providers.
It found DP World’s incentive to discriminate was limited by the need to maintain terminal efficiency, and any reduction in service quality could lead to shipping lines switching terminals, hurting profitability.