DP World via P&O Maritime Logistics Acquires 51% of NovaAlgoma Cement Assets (NACC)
July 3, 2025
NovaAlgoma Cement Carriers Limited, a joint venture between Algoma Central Corporation and Nova Marine Holdings, entered a definitive agreement under which P&O Maritime Logistics (POML), a DP World wholly owned subsidiary, will acquire a 51% controlling stake in NovaAlgoma’s wholly owned cement assets. NovaAlgoma will retain a 49% minority interest through a new entity based in Dubai (NACC), with no expected changes to day-to-day vessel operations and fleet management teams.
- Buyers
- P&O Maritime Logistics (POML)
- Targets
- NovaAlgoma Cement Carriers Limited (cement assets; NACC entity to be held via new Dubai entity)
- Sellers
- NovaAlgoma Cement Carriers Limited, Algoma Central Corporation, Nova Marine Holdings SA
- Platforms
- DP World
- Industry
- Transportation
- Location
- Switzerland
- Transaction Type
- Buyout
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