Travers Smith LLP has advised existing client, DP World (owner of The Peninsular and Oriental Steam Navigation Company) on the extension of a licence agreement for DP World Southampton with Associated British Ports (“ABP”). The licence agreement for the 86 hectare terminal will last 31 years until 2047.
Simultaneously, Travers Smith advised DP World on its acquisition of the remaining 49% stake in DP World Southampton from ABP for a confidential acquisition price.
The Travers Smith team was led by corporate partner William Howard. Real Estate advice was provided by real estate partner Anthony Judge and partner Tom Purton and associate Rowan Armstrong advised on the commercial aspects of the deal.