DP World to acquire EZW for USD 2.6 bln

13/11/2014 Argaam

DP World agreed to buy Dubai industrial and logistics infrastructure firm Economic Zones World (EZW) for USD 2.6 billion.
 

The purchase includes the assumption of net debt of USD 859 million, the port operator said on Thursday.


The purchase will be funded from existing cash and conventional and murabaha term loan and revolving facilities.


DP World said also it was seeking shareholder approval to delist its shares from the London Stock Exchange, while it would maintain its NASDAQ Dubai listing.


The London listing is thinly traded, while liquidity in Dubai markets has been increasing in the past two years. Delisting is expected to take effect on or about Jan. 21, the port operator said.

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