DP World turns its back on US acquisitions

摘要

Dubal-based operator DP World says that it is no longer pursuing acquisitions in the lucrative US market as the costs of running an operation in the country have become too high. DP World chairman Sultan Ahmed Bin Sulayem told Cl that the company had looked at a number of facilities in the country over the past few years before reaching the decision, but concluded that the "numbers just don't work". "It is a high-cost operation and the ebitda [earnings before interest, tax, depreciation and amortisation] would be so low that it would be dangerous," he said.