Dubai firm to sell all its U.S. port operations

[PhilipShore]

Miami Herald
Associated Press
Mar. 16, 2006

http://www.miami.com/mld/miamiherald/business/14109516.htm

WASHINGTON - A Dubai-owned company announced Wednesday it would sell all its U.S. port operations within four to six months to an unrelated American buyer, completing a multimillion-dollar deal forced by congressional concerns over terrorism security.

Lawmakers who criticized the Bush administration for approving DP World's earlier plans to operate in the United States said they were satisfied by the new details from the company. Still, the House voted 377-38 Wednesday to formally express its opposition to DP World running any port terminals in America.

DP World, the world's third-largest ports company, said that until the sale is finalized, its U.S. businesses will operate independently.

The announcement was the first time it described its plans for the newly acquired U.S. operations as a ''sale'' to a single American buyer and indicated it would retain no stake.

[acmavm]

1. Halliburton. n/t

[FloridaPat]

2. Last night I was with some friends and this came up. I was the only

one who knew that the deal had gone through. I have to give credit to the MSM - they sure can confuse a lot of people.