The international ports operator DP World has been required to sell its stake in an Australian container terminal to its joint-venture partner, Flinders Ports, under the terms of their original contract.
The sale has been triggered by a transaction last year in which DP World, based in Dubai, agreed to sell 75 per cent of its entire Australian operations to the private-equity firm Citi Infrastructure Investors (CII) for A$1.5 billion (Dh5.66bn).
DP World's Australian subsidiary, DP World Australia, owns and operates container ports in Brisbane, Sydney, Melbourne and Fremantle. Included in that portfolio was a 60 per cent holding in Adelaide's container terminal.
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