Dubai-based DP World has announced that it has made several asset sales In Europe and the Middle East, as it looks to focus on its expertise in container terminal management.
The world's third-largest port operator reveled that it had sold its stake in DP World Breakbulk and AProjects NV to Orienta NV, with the latter taking on US$61m-worth of assets, Reuters reported.
Meanwhile, the group's Yemen unit has sold its 50 per cent stake in Aden Port Development to its joint venture partner Yemen Gulf of ADen Ports Corp for US$27m.
The Yemen market has been problematic for DP World, with local authorities claiming that the group had failed to carry out investment projects on time – something the group has denied.
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