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DP World buys Egypt container firm

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 01 November 2007
(Getty Images)
(Getty Images)

Dubai port operator DP World said on Wednesday it had acquired a 90% stake in Egyptian Container Handling for $670 million.

Located at Sokhna, near the mouth of the Suez Canal, the port is expected to have a capacity of 1.2 million 20-foot equivalent units by the end of 2009, DP World said in a statement.

The Dubai government plans to sell a 20% stake in DP World next month in what could be the Middle East's largest initial public offering.

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