DP World and Citi Infrastructure Investors in Australian deal
The deal worth A$ 1.5 billion (US$1.5bn) includes the repayment of certain intercompany balances owing from DP World Australia to DP World Limited.
In a statement DP World said that the total proceeds will go towards reducing DP World’s net debt as part of its overall strategy to improve balance sheet flexibility. Completion, subject to regulatory approvals, is expected towards the end of the first quarter of 2011.
Management and staff of DP World Australia will be retained.
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