PFZW plans debt-funded swoop on DP World
A Dubai World subsidiary has agreed to buy port operator DP World for $13.9bn. The lending desks at Citigroup and Deutsche Bank will be big winners from the debt-fuelled transaction.
Port & Free Zone World FZE (PFZW) has agreed to pay $16.75 a share in cash for DP World, taking the company private again after around 12 years of public ownership.The acquisition will be funded through debt provided by Citigroup and Deutsche Bank. Under the funding agreement, DP ...
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