Corsair Capital, through the fund managed by its investment arm, Corsair Infrastructure Partners, has agreed to sell its stakes in DP World Australia (Holding) Pty Ltd to DP World and new investment funds managed by CIP.

DP World Australia is the leading container terminal stevedore in Australia, operating in Melbourne, Sydney, Brisbane and Fremantle. The company provides a critical link in the supply chain and focuses on providing excellent service to shipping lines, importers, exporters and the broader community, while continuing to strengthen relationships with governments, port landlords and other important stakeholders.

With this transaction, DP World will hold the majority stake in the company, alongside a substantial minority investment by CIP-managed funds.

The closing of the transaction is subject to regulatory approvals.