Dubai port operator DP World goes private to tackle debt pile
DP World is a key asset for the United Arab Emirates
17 February 2020 - 20:43
Dubai — Dubai will take its port operator private after a dozen years to alleviate its debt burden and avoid a repeat of the economic crisis that forced a bailout of the country in 2009.
As a source of cash for the state, DP World is a key asset for the United Arab Emirates (UAE) as it endures another year of lower property prices and a struggling retail sector. The country has introduced some countermeasures to revive growth, such as easing restrictions on visas and tackling oversupply in the real-estate market...
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