Financial Times FT.com

Few potential buyers meet requirement for a ‘US entity’

By Robert Wright in London

Published: March 10 2006 00:01 | Last updated: March 10 2006 00:01

The Dubai government’s pledge to sell P&O’s US business to “a US entity” goes against a decades-long trend during which American shipping and port operations have gradually been bought by foreigners.

Given the shortage of sizeable US terminal operators capable of raising the several hundred million dollars required for the transaction, the facilities could end up in the hands of a financial buyer such as Blackstone. The private equity group is believed to have expressed interest in the operations.

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