Tuesday, September 12, 2006

Shipping: DP World starts second round of bidding for its US port assets

Dubai's DP World will start a second round of bidding on Tuesday, for its US port assets. with Morgan Stanley, Carlyle Group and SSA Marine are among the last few bidders.

Earlier this year state-owned DP World caused a political furore over its purchase of the businesses as part of its $7.3bn takeover of P&O, the UK-based container terminal and ferry operator. Opponents cited security concerns about an Arab company controlling US port operating businesses.