DP World sells stakes in Belgium

Says it’s no long managing Yemen’s Aden port

Dubai’s government-backed port operator DP World says it has sold off stakes in port businesses in Belgium and Yemen.

The company said Thursday it sold its 60 per cent stake in Belgium’s DP World Breakbulk NV and AProjects NV to a buyer named Orienta NV. It says the businesses are worth $61 million.

Separately, DP World says it will no longer manage Yemen’s Aden port after reaching a deal with Yemeni officials to divest its 50 per cent stake in that business. Financial terms were not disclosed.

DP World is the world’s third-largest seaport operator, with operations on six continents. The profit-making company is part of Dubai’s Dubai World conglomerate, but it was excluded from its parent’s multibillion-dollar restructuring.

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