DP World-controlled Unifeeder Group has secured a go-ahead from the Competition Commission of India (CCI) to acquire Avana Logistek, Transworld Feeders and its unit Transworld Feeders FZCO.

The acquisition will boost Unifeeder’s presence towards the west of the Indian Subcontinent, complementing its acquisition of Singapore-based Feedertech and Perma Shipping in 2019.

Established in 1982, Transworld Feeders and Avana Global are feeder and non-vessel owning common carrier operators, offering container feedering services and regional trade solutions connecting a wide range of ports in the Middle East, Indian Subcontinent and Far East with a number of central hub ports in the region.

Transworld Feeders is currently not engaged in any business activities in India. However, under the proposed combination, it will acquire the feeder shipping business of Shreyas Shipping and Logistics.

The deal was initially announced in August 2020 and was expected to be completed by the end of the same year.

Source: Splash247