Port operator is unit of state-backed conglomerate Dubai World, which is restructuring billions of dollars in debt
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.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.