Dubai World Adjusts to a New World………..
“Dubai World may sell prized possessions, including the ports operator DP World and AtlantisThe Palm, to raise up to US$19.4 billion (Dh71.25bn) if it needs to raise money to meet debt obligations under its restructuring plan with bankers. The plan to offload the assets is part of a contingency revealed for the first time yesterday as restructuring documents given to bankers in June were made public. Assets listed in the documents include DP World, the Atlantis, MGM Resorts International and the luxury retailer Barneys New York, along with other high-profile assets acquired before the financial crisis threw the state-owned company’s finances into the red…….”
I recall the days when DP World was seeking to control US ports, with the approval of the Bush administration, but was thwarted by all the opposition. Bush was not even a secret Muslim, unlike Obama and Hillary Clinton.
Cheers
mhg
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