DP World shares slide

Dubai World’s restructuring could include the sale of assets in the United Arab Emirates (UAE) and abroad to repay its debt, reported to be in the region of US$59bn. Initially Dubai World, which owns 80% of DP World, said that the company was not part of any restructuring plan.

Dubai World is playing down its financial problem, although recently stated that it required a six-month moratorium on its debt. Earlier this year DP World put a stop on all new investment and undertook a review of all its expansion plans, full details of which are still awaited.

Yesterday (Thursday), DP World officially denied rumours of its possible sale by Dubai World to raise badly-needed cash, following its call for a moratorium on its massive debts.