DP World denies stake sale talks

Port operator DP World has never been approached to sell a stake to a private equity firm and any decision would be up to the company's board, Chief Executive Mohammed Sharaf said on Thursday.

"There is no update ... we haven't been approached by anybody," he said in a conference call.

Parent company Dubai World said in May it was in talks to sell a stake in the port operator after it was approached by a regional private equity firm to sell a minority stake.

Well hush my blog, what did I find in the archives?

Sunday, May 10, 2009
DP World Sukuk Limited - Statement


In light of the suspension of trading in its shares, the Board of DP World has been informed by its ultimate majority shareholder Dubai World that Dubai World has received an approach from, and is engaged in discussions with a regional private equity firm which may or may not result in a transaction regarding a minority stake in DP World, coming largely from the free float.

Consequently shareholders of the company may wish to exercise caution in dealing in their shares.

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© Press Release 2009