DP World gains on divestments in Belgium and Yemen
- United Arab Emirates: Thursday, September 20 - 2012 at 15:04
The FTSE NASDAQ Dubai UAE 20 Index closed 0.16% higher at 1749.87 Thursday. Interior design company Depa Limited slipped 1.90% to $0.309. DP World, the world's third largest port operator, jumped 0.90% to reach $11.20. Earlier in the day, DP World said it has divested all 60% of its shares in DP World Breakbulk NV and AProjects NV to Orienta NV. The value of the gross assets divested is $61m. In addition, DP World Yemen LLC, in which DP World Limited has a 66.6% indirect shareholding, has divested all of its 50% shareholding in Dubai and Aden Port Development Company to its joint venture partner Yemen Gulf of Aden Ports Corporation. The value of the gross assets divested by DP World Limited is $27m. DP World said in a statement to the NASDAQ Dubai on the agreement in Yemen that "We are very satisfied with the agreement we have reached with the Yemeni parties including Yemen Gulf of Aden Ports Corporation (YGAPC). Our investment in the Aden facility was recognised by our joint venture partner, YGAPC, through the agreement reached today. The agreement reached protects the interests of DP World, its partners and the Yemeni parties who will run and operate a terminal boosted by two new Liebherr Super Post-Panamax quay cranes. We believe that the work we have started will go a long way in further supporting the facility's position."
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