Monday, March 13, 2006

DP World: No Plan to Sell Miami Port Ops

ABC News

WASHINGTON - The Dubai-owned company that promised to surrender its U.S. port operations has no immediate plans to sell its U.S. subsidiary's interests at Miami's seaport, a senior executive wrote Monday in a private e-mail to business associates.

Even if DP World were to sell its Miami operations to quell the congressional furor over an Arab-owned company managing major U.S. ports, "that would probably take a while," wrote Robert Scavone, a vice president for DP World's U.S. subsidiary.

The e-mail, obtained by The Associated Press, added to questions raised since DP World's announcement last week that it will divest U.S. port operations it acquired when it bought London-based Peninsular and Oriental Steam Navigation Co.

DP World has said those operations are worth roughly $700 million.

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