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Dubai in talks to sell stake in ports
Source: Agencies |
May 11, 2009, Monday
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Print Edition
Print Edition
DUBAI state-controlled port operator DP World says it's in talks to possibly sell a minority share of itself to a Middle East private equity firm.
The company said in a statement posted yesterday on the Nasdaq Dubai stock exchange that it "has received an approach from and is engaged in discussions with a regional private equity firm."
DP World says the talks "may or may not result in a transaction regarding a minority stake" in the company.
The statement did not identify the equity firm.
The stake would come largely from the share of the company that is publicly traded.
State-owned conglomerate Dubai World owns about 80 percent of the port operator.
DP World is the world's fourth largest port operator, with operations on six continents.
The company said in a statement posted yesterday on the Nasdaq Dubai stock exchange that it "has received an approach from and is engaged in discussions with a regional private equity firm."
DP World says the talks "may or may not result in a transaction regarding a minority stake" in the company.
The statement did not identify the equity firm.
The stake would come largely from the share of the company that is publicly traded.
State-owned conglomerate Dubai World owns about 80 percent of the port operator.
DP World is the world's fourth largest port operator, with operations on six continents.
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