DUBAI: Port operator DP World says it is selling off its interest in logistics firm P and amp;O Trans Australia for $106 million Australian dollars ($112 million), further trimming its holdings in the country. The Dubai-based port company said Monday's purchase by fellow POTA shareholder Qube Logistics of Australia includes the purchase of its 50 percent stake and related debt. It expects the deal to close this month. Qube says the acquisition will give it control of 94.5 percent of the company. DP World is a profitable division of struggling state conglomerate Dubai World. It sold the bulk of its Australian port businesses to a Citi investment fund for $1.5 billion in December.
