Middle East Economic Survey
VOL. LIII
No 26
28-Jun-2010
UAE
US Investigation Halts Dubai World Shipping Subsidiary Sale
Troubled conglomerate Dubai World has reportedly suspended the sale of one of its key assets, Inchcape Shipping Services (ISS), as a result of an investigation into the company by the US Department of Justice. Istithmar, Dubai Worlds private equity arm, had been planning to sell off the entity as part of a fundraising drive to help clear up the conglomerates $23.5bn of debt, and...
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