As a result of this and a closer examination of the financial feasibility of the bid terms and return on capital, Carlyle has indicated that it no longer wishes to proceed.
Meanwhile, APM which submitted an unsolicited bid last May to take over the operations of the Virginia ports from Virginia International Terminals, and RREEF America, a Deutsche Bank subsidiary are still bidding. The Virginia Port Authority (VPA) has indicated that although initially declaring it will accept bids until November 1, state officials have affirmed an extension to December. 3.
A decision regarding terminal operations could be made in April or May of 2013.