After unrelenting congressional pressure, United Arab Emirates-controlled DP World on Wednesday outlined new details for the sale of its U.S. port operations to a U.S. buyer within four to six months, and it named its investment banking and legal advisers to handle the auction process.
“An expedited sale process is under way, and with the cooperation of the port authorities and joint venture partners, it is expected that a sale can be agreed within four to six months,” DP World said in a statement. “Until the sale is completed, P&O Ports North America Inc. will be operated independently from DP World.”
