DP World deal hits snag?
Dubai Ports World's proposed sale of its stevedoring businesses in the United States to AIG Global Investment Group has hit a snag, the Newark N.J. Star-Ledger reports today.
The paper said the Port Authority of New York and New Jersey has withheld consent to the deal partly because it wants compensation for $30 million in improvements to the DP Ports terminal in Newark.
DP World agreed in December to sell its North American assets, which include management of terminals in Philadelphia, Baltimore, Miami, New Orleans and New York City, as well as operations in 16 other ports.
Security concerns sparked intense opposition to ownership of port businesses by the Dubai-based company last year.
DP World deal hits snag?
