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Dubai Takes Port Operator Private to Tackle Looming Debt Pile

  • DP World parent to pay 29% premium to delist from Nasdaq Dubai
  • Dubai World restructured $23.5 billion of debt in 2009
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DP World to Delist From Nasdaq Dubai, Return to Private Ownership
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Dubai will take its port operator private after a dozen years to alleviate its debt burden and avoid a repeat of the economic crisis that forced a bailout in 2009.

As a source of cash for the state, DP World Ltd. is a key asset for the emirate as it endures another year of lower property prices and a struggling retail sector. Dubai’s government has introduced some counter-measures to revive growth, like easing restrictions on visas and tackling oversupply in the real-estate market.