Magazine: Carlyle, SSA in bid for ports
The British magazine The Business is reporting that the Carlyle Group and SSA Marine have joined forces to counter an effort by French shipping company CMA CGM to buy the US terminals Dubai Ports World acquired from P&O earlier this year.
The magazine had previously reported that CMA CGM was forming an alliance with Morgan Stanley to bid for the terminals.
DP World acquired P&O Ports North America in March as part of its $6.8 billion takeover of London-based Peninsular and Oriental Steam Navigation Co. in March.
Deutsche Bank, which is running the acquisition process for DP World, is calling for final bids by the end of this month. Reports suggest that bids have been received above the $700 million evaluation.
Magazine: Carlyle, SSA in bid for ports
