DP World stake 'not for sale'

20 Oct 2009

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In a statement, the company said: "The Board of DP world would like to reiterate previous statements that they have not been involved in any discussions in relation to a potential sale of stake in the company." Nevertheless, it added, "DP World has now been advised by Dubai World that these discussions are no longer ongoing."

There had been a previous media report that the Dubai-based private equity firm Abraaj Capital had approached the company with a view to buying a minority shareholding.

According to these reports, the two had been in talks for five months, but negotiations had ceased given difficulties in agreeing on terms. There is also speculation that attaining the necessary finance in the current economic environment might well have proved impossible given the large sums of money involved.

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