Dubai port operator DP World sold its quarter stake in a Russian container terminal to Global Ports Investment for $230 million, as part of efforts to dispose of non-core assets.
Dubai Ports said on Monday its minority ownership in Vostochnaya Stevedoring Co was a legacy investment with limited management involvement.
Global Ports already holds 75 percent of Vostochnaya and will now take full control of the terminal following the sale. The transaction is expected to close this week, the Dubai-based firm said in a statement to Nasdaq Dubai.
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