Dubai’s DP World Said to Near Deal for Hong Kong Tycoon’s Assets
- Companies are finalizing the details of potential transaction
- A potential deal could be valued at as much as $400 million
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DP World is nearing a deal to buy Cargo Services Far East Ltd. from Hong Kong tycoon John Lau, people familiar with the matter said, a move that would give the Dubai port operator a bigger footprint in Asia.
The companies are finalizing the details of a transaction that could be announced as early as in the coming days, the people said, asking not to be identified because the matter is private. A potential deal could be valued at $300 million to $400 million, depending on composition of the assets, the people said.