DP World (DPW.DI: Quote) agreed to sell its remaining stake in container services firm P&O Trans Australia (POTA) for A$106 million, the port operator's second sale in Australia in the last five months.
DP World will sell the stake to Qube Logistics (QUB.AX: Quote), the two companies said in separate statements on Monday.
The deal, which consists of the purchase of DP World's shares and related loans, is expected to be completed by the end of April and will provide Qube with a 94.5 percent stake in POTA with management owning the remaining 5.5 percent, Qube said.
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