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FINANCIAL NEWS
Dubai’s DP World gives up stake in Adelaide port to Flinders
05 Jul 2012
(MENAFN) Dubai’s DPWorld, the world’s fourth largest container port operator, sold its 60 percent stake in Adelaide’s container terminal to Flinders Port, Reuters reported.
The stake sale was triggered by a transaction in 2011, DPWorld agreed to sell 75 percent of its entire Australian operations to private equity firm Citi Infrastructure Investors (CII) for USD1.5 billion.
Flinders, which owns the 40 percent in the terminal, exercised its right to buy DPWorld’s stake in the event of a change in partnership terms.
DP World Australia also operates container terminals in Brisbane, Sydney, Melbourne and Fremantle.
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