The FTSE NASDAQ Dubai UAE 20 index closed Wednesday trading insignificantly lower at 1,593.24 points. Shares of Dubai Ports (DP) World advanced the fourth day straight to reach $10.85, up one percent from the previous close. Earlier in the day, the world's third largest port operator said that DP World Australia Limited, in which DP World Limited has a 25% shareholding, has sold all of its 60% shareholding in Adelaide Container Terminal to Flinders Ports Adelaide Container Terminal. "The total amount received by DP World Australia Limited was A$134 million (approx USD$138 million), which represented a total enterprise value in excess of A$235 million (approx USD$241 million) or 12.3 times historic earnings and ahead of the same valuation at the time of the 2011 transaction," DPW added to the statement. "In March 2011, DP World Limited formed a strategic partnership with Citi Infrastructure Investors (CII) together with one of CII's major investors, to invest in, operate and manage DP World's five marine terminals in Australia. The transaction, which was earnings enhancing from the time of completion, valued DP World Australia at an enterprise value of A$1,817 million. DP World used the A$1,483 million proceeds to reduce leverage (net debt to EBITDA) and for investments in higher margin markets. Arising from the CII transaction, Flinders Ports exercised specific provisions in a Shareholder Agreement to buy-out DP World Australia's 60% shareholding in the joint venture for Adelaide Container Terminal which has resulted in DP World Australia exiting the terminal."