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. ----------------------- Senators ask Big Oil, where's the money? |
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