DP World under no pressure from Dubai to sell assets - COO

Port operator is unit of state-backed conglomerate Dubai World, which is restructuring billions of dollars in debt
DP World under no pressure from Dubai to sell assets - COO
DP World COO says the logistics giant is under no pressure to sell assets (ITP Images)
By Reuters
Sun 23 Jan 2011 03:53 PM

Ports operator DP World is under "no pressure" from the Dubai government to sell its assets for debt repayments, the company's chief operating officer said on Sunday.

"There is no pressure from Dubai to sell assets. We are not compelled to do anything," Anil Wats told reporters on the sidelines of a conference in Dubai.

Last year, DP World said it planned to sell its Australian operations to private equity firm Citi Infrastructure Investors (CII) in a deal worth $1.5bn as it tried to reduce its debts.

"This was a business decision," Wats said, giving no further details.

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