DP World keeps firm focus on global growth with GBP3.3bn P'O purchase.

(From Lloyds List)

Byline: Hefty price tag justified through little geographic overlap, writes Tony Gray

' Growth' is a word that crops up frequently in conversation with Dubai Ports World and P'O, its friendly bid target.

Both sides are keen to reassure employees that the GBP3.3bn ($5.7bn) takeover is not about taking costs of the business, but to add value.

When asked about cost savings that might be achieved through the merger of the two ports groups, DP World chief executive Mohammad Sharaf responded: 'It is too early to talk about that. Our objective has always been growth.'

A question on the possibility of job losses provokes a similar response.

'If you look at our history and what we have done in the past few years, you will see we are interested in growth and creating more jobs,' he said.