PORT and ferry workers at Dover have been told their jobs are safe after the sale of P&O in a £3.3bn deal.

Dubai Ports World, Dubai’s Government-owned port company, today (agreed to buy the Peninsular & Oriental Steam Navigation Company for £3.33 billion.

P&O says that jobs, including ones on its Dover-Calais routes, will be safeguarded.

The deal makes DP World the third-biggest terminal operator. DPW will pay 443p a share in cash for P&O, Britain’s largest port operator. DPW manages ports in Europe, Asia, Australia and South America.

Speculation around the takeover approach focused attention on the fact that ferries are a small part of P&O’s operation and led to fears by transport unions, that any takeover would asset strip and take jobs away from Dover. But DPW says it plans to run P&O as a separate business.

P&O’s headquarters in London will be retained and chief executive Robert Woods will continue to head the business.

In a letter from P&O chairman, Sir John Parker, to Dover MP Gwyn Prosser, Sir John made it clear that DPW has made no proposals to change the way the company is run.

The letter added: "DPW have made clear they intend to continue to own all P&O’s businesses and to run them successfully. DPW has considerable resources and are committed to continued expansion and see new opportunities for employees as a result."

Sir John added: "DP World’s offer recognises that P&O is a unique brand with an exceptional footprint of international port assets.

"P&O is one of the top four international port operators, with 29 container terminals and operations in 18 countries across the globe.

"The Board believes this all cash offer is in the best interests of the deferred stockholders, who will receive a substantial return on their investments.

"DP World also recognise the importance of P&O’s ferries and properties divisions as well as ports."

The takeover ends a significant period of British maritime history. P&O was founded in 1837 at the height of Britain’s imperial expansion to carry cargo between Britain and the countries of the Empire.