UAE - Mubasher: DP World has hired banks to help in selling a minority stake in Jebel Ali Free Zone (Jafza), which could be funded using leverage finance, three sources told Reuters.
DP World has hired JPMorgan, Standard Chartered, and First Abu Dhabi Bank (FAB) for the transaction which could attract infrastructure funds, private equity firms, and other investors such as pension funds, the sources referred.
"This business is like an annual annuity for investors, it will only grow," a source remarked.
The sources said that the sale could help in reducing debt and funding DP World's investment plans.
Jafza is now home to more than 8,000 companies, which includes nearly 100 Global Fortune 500 enterprises, compared to more than 500 in 1995, according to the official website.
