Dubai World would consider selling some of its shareholding in DP World (DPW) if the planned listing of the ports group in London is successful, a DPW executive said yesterday.
The news came as Dubai World announced it had completed a major part of its US$24.9 billion (Dh91.45bn) restructuring after the formal signing of agreements with its financial creditors for $14.7bn of debt. The debt will be repaid in two tranches - $4.4bn over five years and $10.3bn over eight years.
Yuvraj Narayan, DPW's chief financial officer, confirmed the company's commitment to a London listing and said: "I would imagine if the valuation becomes more attractive and there is more liquidity, they [Dubai World] may well consider selling down some of their shares sometime in the future."
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