DP World could re-enter US market: CEO
02 Aug 2011
(MENAFN) DP World’s CEO Mohamed Sharaf said that the company could back to operating in the US, however, he did not give a timeline to such a move, reported Arabian Business.
The CEO said that going back to the US market “is something we have continuously said that at the right time we will go back. When is the right time? I don’t know myself”.
DP World had previously bought Peninsular and Oriental Steam Navigation Company back in 2006. The company owned six US port operations. But the deal was canceled as politicians argued the takeover would compromise US port security. The Dubai conglomerate later volunteered to turn over the management of the ports to US entity, and later sold the American operations to Global Investment Group.