Dubai World is seeking to restructure nearly $25 billion in debts, but its assets have been valued at $11 billion by J.P. Morgan. Of those assets, the company's container terminal operating arm DP World is valued at $7.1 billion, JPMorgan Chase analyst Zafar Nazim wrote in a research report.
The holding company owns an 80 percent stake in DP World, but may have to shed some of that stake, with Nazim estimating that Dubai World would maintain at least a 50 percent stake in DP World, one of the few attractive assets in its portfolio.
Dubai World announced last fall that it was seeking to restructure $50 billion in debt. Dubai World said last week it has arranged a new debt repayment structure for 99 percent of its remaining $25 billion in debt. All of the company's assets were listed for sale as part of the restructuring, the Bloomberg report said.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now