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Should Dubai accept an offer for a DP World stake?

April 26, 2017DP Dubai Offer stake world

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Should Dubai accept an offer for a DP World stake?

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The cheeky offer by local private equity group Abraaj for a 15 per cent stake in DP World, the world’s fourth largest port operator and owner of the Jebel Ali Free Zone, poses a dilemma for the Dubai Government. If the government accepts a reasonable offer then it sends a signal to the market that it is short of cash and that everything in Dubai is up for sale. After all DP World stock would be a steal for Abraaj with the stock trading at 39 cents down from $1.30 in the IPO 18 months ago.