Dubai Ports World warned yesterday that its deal to sell off major port operations in six U.S. cities may fall apart if the Port Authority of New York and New Jersey doesn’t drop demands for a multimillion-dollar payment.
DP World, based in Dubai, United Arab Emirates, is trying to finish the sale of U.S. port operations it acquired last year, including the Port of Baltimore.
As a result of criticism, DP World struck a deal in December to sell the U.S. operations to AIG Global Investment Group, for an undisclosed sum. But the final sale has been delayed by the Port Authority’s request for tens of millions of dollars from the prospective new owners.
Port Authority officials want compensation for past improvements to Newark terminal.tainer
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