Simon Group preparing offer for DP World’s U.S. assets

Simon Group preparing offer for DP World’s U.S. assets    United Kingdom port operator Simon Group has recruited ex-government and military officials at its newly established U.S-based company, American Ports, to help mount a bid for the U.S. assets of DP World, the Financial Times reported.
   Simon operates the Humber Sea Terminal at Killingholme and Port Sutton Bridge on the East Coast of England. Earlier this month, the Simon board accepted a '95 million ($176 million) takeover bid from Belgium’s Montauban S.A., a wholly owned subsidiary of CdMG, a private investment holding company incorporated in Belgium and controlled by Camille Cigrang, owner of roll-on/roll-off and terminal operator Coblefret.
   DP World, owned by the government of Dubai, acquired London-based Peninsular and Oriental Steam Navigation Co. in March for $6.8 billion. It agreed to divest the U.S. part of the deal after running into fierce opposition in the U.S. Congress, which threatened to block the deal over fears that terrorists could infiltrate the company and attack U.S. ports or facilitate smuggling of deadly weapons into the country.
   Deutsche Bank is acting as financial advisor in the sale of DP World's U.S. container terminal and stevedoring assets.