Support The Moscow Times!

DP World Sells Stake

DP World, the world's third-largest port operator, sold its 25 percent stake in container terminal Vostochnaya Stevedoring to Russia's Global Ports Investment for $230 million, the Dubai-based firm said Monday.

Global Ports already holds 75 percent of Vostochnaya and will now take full control of the terminal after the sale.

The transaction is expected to close later this week, DP World said in a statement to Nasdaq Dubai.

Vostochnaya Stevedoring, based in the port of Vostochny, is the largest container terminal in the Far East and one of the key gateways for Russian container transportation, Global Ports said in a separate statement.

(Reuters)

Related articles:

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more