Browse
related articles
DP World soars on divestment from Russia's Vostochnaya Stevedoring Co.
- United Arab Emirates: Monday, October 22 - 2012 at 15:26
The FTSE NASDAQ Dubai UAE 20 Index closed at 1803.49, up 0.53%, from the previous close. Dubai Ports (DP) World jumped 2.60% to hit $11.90. Earlier in the day, the world's fourth largest maritime port operator said has reached agreement to divest its 25% shareholding in Vostochnaya Stevedoring Company in Russia. The purchaser is the existing 75% majority shareholder Global Ports Investments PLC. "DP World's minority ownership in Vostochnaya Stevedoring Company was a legacy investment with limited management involvement, therefore we have taken the opportunity to realise value by divesting our shareholding to our long-term partner," said DP World in a statement, adding "The total consideration for our 25% shareholding is $230m and the transaction is expected to close later this week."
Related Content
Article Options
Gérard Al-Fil, Financial JournalistMonday, October 22 - 2012 at 15:26 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
