Dubai Ports World is selling ports operations in New Jersey, New York, Philadelphia and four other U.S. cities to AIG Global Investment group.
Dubai’s planned takeover of
majorU.S. port operationsignited a political firestorm earlier this year. Critics cited the United Arab Emirate’s history as an operational and financial base for the Nine-Eleven hijackers. The government supported the Taliban before the attacks.
The company announced the deal Monday. The U.S. operations at six major U.S. seaports in New York/New Jersey, Philadelphia, Baltimore, Miami, Tampa and New Orleans were approximately valued at $700 million, but DP World did not disclose the sales price.