Independent journal on economy and transport policy
12:52 GMT+2
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Delisting from the Nasdaq Dubai of DP World which will return to full ownership of Dubai World
Port & Free Zone World FZE will acquire 19.55% of the terminalist company's capital for USD 2.72 billion
February 17, 2020
The offer, agreed by PFZW with independent advisers DP World together with the decision to delist terminalist company, is based on a price of 16.75 dollars per share, equal to a 29% premium compared to yesterday's closing price of 13.00 dollars. In total, FPZW will therefore have to fork out a total of 2.72 billions of dollars to acquire the remaining 162.3 million DP World's shares not yet in its possession.
Among other things, the transaction envisages PFZW's 5.15 billion euro Dubai World to ensure that Dubai obligations with the creditor banks.
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