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DP World buys into Spain

UAE-based marine terminal operator DP World has signed a sale and purchase agreement for a 60% stake in Contarsa Sociedad de Estiba (Contarsa), a privately owned company which holds the exclusive concession for Tarragona container terminal in northern Spain, reported Khaleej Times. The transaction has received approval from the Tarragona Port Authority and is currently seeking European Union regulatory clearance. The price was not disclosed.