the republic logo

Shareholders back DP World's London delisting, deal to buy Dubai free-trade zone operator

bug
Share/Save/Bookmark

DUBAI, United Arab Emirates — DP World, one of the world's largest port operators, says its shareholders have approved delisting from the London Stock Exchange and the acquisition of a Dubai government-linked operator of free-trade zones for $2.6 billion.

Chairman of DP World Sultan Ahmed Bin Sulayem said in a company statement Thursday that the acquisition of Economic Zones World will help the company enhance its logistics operations. EZW runs the vast Jebel Ali free zone complex in Dubai and DP World operates its nearby port.

Both companies are majority-owned by the government through its Dubai World conglomerate.

The EZW transaction will be completed during the second quarter of 2015.

The delisting is expected to take effect around Jan. 21. DP World will maintain its listing on the Nasdaq Dubai.

Think your friends should see this? Share it with them!

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.