History of U.S. Review of Proposed DPW Acquisition

Monday, February 27, 2006
The U.S. Treasury Department outlinedthe history of the review of the proposed acquisition by Dubai Ports World (DPW) of various U.S. port facilities currently operated by P&O Ports. The review was performed by the Committee on Foreign Investment in the United States (CFIUS). On February 23, the Senate Committee on the Armed Services was briefed in open session on the proposed acquisition. Ranking Member Carl Levin (D-MI) released a copy of his opening remarks. Chairman John Warner (R-VA) released a statement at the conclusion of the briefing. Subsequently, the White House released a Fact Sheet regarding the proposed acquisition. Later, the U.S Treasury Department issued a second Press Release welcoming the announcement by DPW that it is requesting a review of its proposed restructured acquisition. source: HK Law

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