Dubai Ports World to dispose of U.S. ports
Company statements clarify its intentions; UAE company will sell its U.S. operations to an unaffiliated American buyer.

WASHINGTON (CNN) - The United Arab Emirates company that agreed last week to "transfer fully" the operations of U.S. ports to an American entity issued a statement on Wednesday saying that the entity will be an unrelated U.S. buyer.

Some U.S. lawmakers have asked to see Dubai Ports World's specific plans. They are concerned that a vague statement issued by the Dubai-based company could leave a loophole that would allow it to control some U.S. port operations.

According to the company statement released Wednesday, DP World is still entertaining offers and hopes to have the sale wrapped up in four to six months.

DP World's purchase of P&O, the British company that manages some cargo and passenger terminals at several ports on the Atlantic and Gulf coasts, raised bipartisan concerns on Capitol Hill over domestic port security.

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.