DUBAI, United Arab Emirates — International port operator DP World reached a deal Thursday with one of Canada’s biggest pension-fund managers to pour an additional $4.5 billion into their joint venture of ports and terminals. It also comes as DP World, grappling with an economic downturn worsened by the coronavirus pandemic, delists itself from trading to become a fully private, government-owned firm. DP World and CDPQ agreed in 2016 to invest in 10 port terminals across the world. DP World said the new agreement would “broaden its footprint” in areas where it already operates and allow it to shop for ports and terminals in Europe and Asia Pacific. DP World has a 55% share in the fund, with CDPQ holding the remaining 45%.

Source: International New York Times September 03, 2020 10:07 UTC