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Dubai's DP World to buy Economic Zones World for $2.6 bln

Reuters - UK Focus

DUBAI, Nov 13 (Reuters) - DP World, one of the world's largest port operators, has agreed to buy Dubai industrial and logistics infrastructure firm Economic Zones World (EZW) for $2.6 billion, the company said in a statement on Thursday.

The purchase of EZW, currently owned by Port and Free Zone World, includes the assumption of net debt of $859 million. EZW has five business units including Jebel Ali Free Zone and JAFZA Enterprises.

Separately, DP World said it was seeking shareholder approval to delist it shares from the London Stock Exchange (Other OTC: LDNXF - news) , while it would maintain its NASDAQ Dubai listing.

The ports operator said the delisting was expected to take effect on or about Jan. 21. (Reporting by Nadia Saleem; Editing by Andrew Torchia)