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DP World Sells Remaining Australian Logistics Stake

DP World is selling its remaining stake in container services company P&O Trans-Australia to co-shareholder Qube Logistics for $111 million.

In December DP World sold a 75 percent stake in its Australian container terminal business DP World Australia to private equity firm Citi Infrastructure for $1.5 billion.

DP World has used the proceeds to reduce its debts but has stressed it is under no pressure to sell assets because of the financial problems of its majority shareholder Dubai World.

From the Journal of Commerce


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