They are just announcing that they will sell off the U.S. subsidiaries that hold the terminal contracts.
I don't know who is going to buy them, or how long it will take them to sell them. It probably will mean a loss for them, I'm sure they aren't worth as much now that everybody knows congress will react without regard to facts.
Odd how a company who the opponents say bought P&O simply to subvert our port security seems so willing to bend over backwards to mollify our unfounded fears.
I suppose all those who complained about "blackmail" on the thread will now praise DP World for being a good "friend" who turns the other cheek when attacked.
But like Ted Kennedy said to Mary Joe -- "Don't hold your breath waiting".
Good points.
Brit Hume: Dubai Ports has companies all over the world and will sell off the US piece to this deal. It will sell off to a US entity.
It's not clear that a US entity exists to do this work. One might have to be created.
Dubai doesn't want to have a fire sale so it will take a while to execute this. It will give Republicans the cover they need to back off on this.
Me: So to the person on this thread trying to pretend that "we were lied to" that an American company couldn't handle this transaction, I guess you were wrong. Again.