Djibouti Scraps DP World Port Concession Citing Corruption - Bloomberg:
"Djibouti’s government said it rescinded DP World (DPW)’s concession at the Doraleh Container Terminal after finding evidence of corruption and has begun arbitration proceedings.
The agreement was canceled after an investigation that showed an accord signed with the company “unfairly favored” Dubai-based DP World, according to a statement e-mailed by Consulum, a London-based communications consultancy, on behalf of the government. Talks aimed at resolving the matter have broken down and the state will seek damages for losses it has incurred, it said.
DP World rejected the accusations and will “vigorously defend our position during arbitration,” the company said in an e-mailed response to a request for comment. “We are disappointed that the government has chosen to take this action after working so closely with us as partners over the past 14 years.”"
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