DP World to buy Dubai Maritime City, Drydocks World
DP World said on Monday that it had entered into a deal to buy two other Dubai state-owned maritime companies for a total of $405 million.
The Dubai-based ports operator will acquire Maritime World, the 100 percent owner of Dubai Maritime City, for a purchase consideration of $180 million, and 100 percent of Drydocks World by means of a capital injection of $225 million.
Both deals are expected to close before the end of the first quarter of 2018, it said.
Reporting By Tom Arnold