Monday, 8 February 2010
Dubai World sale puts QE2 on the block
Debt-laden Middle Eastern conglomerate Dubai World is preparing a firesale of some of its most prestigious assets including the cruise liner QE2 and circus troupe Cirque du Soleil.
The disposals are part of an effort to pay down some of Dubai World's $22bn (£14bn) of debts.
Last week Istithmar, the investment arm of Dubai World, started the process by selling a 13pc stake in Indian domestic airline SpiceJet. It has also entered into talks to sell Inchcape Shipping Services, the UK port agent, with a mooted $700m price tag.
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