Dubai in talks to sell stake in ports

Source: Agencies | May 11, 2009, Monday |

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.

Transport

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Dubai in talks to sell stake in ports

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