DP World to buy Dubai Maritime City, Drydocks World for $405 million

DP World to buy Dubai Maritime City, Drydocks World for $405 million:

"DP World DPW.DI, one of the world’s largest port operators, has agreed to buy two fellow state-owned maritime companies from its parent for $405 million.

DP World will acquire Dubai Maritime City owner Maritime World for $180 million and Drydocks World for a capital injection of $225 million from Dubai World, the port operator said in a statement on Monday.

Dubai World, the state-owned conglomerate which agreed to a $25 billion debt restructuring in 2011 after it was hit by the global financial crisis, is the majority owner of DP World, Maritime World and Drydocks World, according to its website."



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