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Bond Market News
DPW Nearing $400mn Deal for Cargo Services
April 8, 2024
DP World (DPW) is said to be nearing a deal to buy Cargo Services Far East Ltd from its CEO John Lau, according to sources. The deal could be valued between $300-400mn depending on the composition of the assets. The companies are in the process of finalizing the details of the transaction, which could be announced in the coming days, the sources added. It was reported in November last year that DPW was in talks to buy Cargo Services Far East. This deal could help DPW in expanding its footprint in Asia.
DPW’s dollar bonds traded stable with its 5.5% 2033s at 100.3 cents on the dollar, yielding 5.45%.
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