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The deal underlines the pressure the heavily debt-laden emirate of Dubai is under.
July 03, 2020 at 04:00 AM
1 minute read
Correspondent, Dubai
Clifford Chance is advising on the buy-back of just under 20% of the shares of Dubai’s DP World, rendering the world’s fourth-largest ports and logistics concern once again 100% publicly owned.
In a statement, the firm said it is advising Port & Free Zone World FZE (PFZW), a wholly owned subsidiary of investment company Dubai World, on its $2.7 billion cash offer for DP World.
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