It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Dubai Ports World, the company whose planned takeover of
major U.S. port operations ignited a political firestorm earlier
this year, has agreed to sell those operations to AIG Global
The U.S. operations at six major U.S. seaports in New York -
New Jersey, Philadelphia, Baltimore, Miami, Tampa and New
Orleans were valued at about $700 million, but DP World did
not disclose the sales price.
The company announced the deal Monday.
The deal also involves stevedoring operations in 16 locations
along the eastern seaboard and Gulf Coast and a passenger
terminal in New York City.
"While we are disappointed to be exiting the U.S. market, the
price we received was fair," Sultan Ahmed Bin Sulayem, the
chairman of DP World, said in a statement announcing the deal.
The sale requires regulatory approval from several port author-
ities, including New York and New Jersey.
It is expected to close in the next few months, DP World said.
Originally posted by Grailkeeper
Its scary to think of all the foreign interests in North America.
I suppose it would not be easy to sell such businesses off to the wrong people, but if a few dummy corps slipped through or were so well hidden that they make it through the screening process ( I hope there is some type of screening process ), kaos would ensue.