Tuesday, December 12, 2006

Dubai Ports World to sell US Port Ops to AIG

Reported here:
Dubai's DP World will make a substantial profit on the forced sale of its US assets after agreeing to sell the business to American International Group, the world's biggest insurer, for more than $1bn.
As well as the five container terminals, the business includes several cargo and passenger-handling operations.

The price reflects the soaring valuations of container port assets. Prices have been driven up by enthusiasm for infrastructure investment as well as the readiness of industry players to buy assets when available.
Earlier coverage of this "forced sale" here and here.

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