DP World to sell stakes in HK terminals for $ 762 m

Monday, 18 March 2013 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Dubai’s port operator DP World Limited has agreed to sell stakes in two container terminals and a logistics centre in Hong Kong for a total consideration of $ 742 million, it said in a statement on Thursday.

The company will sell 75% of its stakes in container terminals CSX World Terminals Hong Kong Limited and ATL Logistics Centre Hong Kong Limited (ATL) to Goodman Hong Kong Logistics Fund for $ 463 million, it said in a statement on the Nasdaq Dubai website. DP World is also selling all its 55.2% stake in Asia Container Terminal, which operates Asia Container Terminal 8 West (CT8), to Hutchison Port Holdings Trust for $ 279 million.

The asset disposals are expected to result in a net gain of $ 151 million for DP World and help boost its capital levels, the port operator said.