Dubai's port operator DP World expands operations in Peru

Dubai-based port operator DP World has completed a roughly $316 million deal to acquire a Peruvian container and logistics firm and a stake in one of the largest container terminals in the South American country.

The global port operator, which is majority owned by the Dubai government in the United Arab Emirates, said Monday the deal entails 100 percent acquisition of Cosmos Agencia Maritima, or CAM as it's also known.

The purchase of CAM includes its logistics business, Triton Transports and Neptunia, as well as a 50 percent stake in the Portuários Euroandinos terminal in Peru's Port of Paita.

DP World already operates a container terminal in the Peruvian coastal city of Callao and an inland container terminal in Lurin.

The firm operates nearly 80 terminals in over 40 countries.