Probe fears undermine Dubai’s ISS sale

For the second time in four years, a deal involving Dubai and ports has run into difficulty.

In 2006, a political backlash in Washington forced Dubai Ports World to sell six US ports that the government-controlled group bought as part of its takeover of P&O, amid concerns about the security risk of a Middle Eastern buyer.

Now it appears another deal has been thrown into doubt after bidders for Inchcape Shipping Services withdrew their interest after learning of an investigation they believe the US Department of Justice is conducting into the port and shipping agent being auctioned by state-owned conglomerate Dubai World.