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Article: AIG Global Investment Group Closes the Acquisition of P&O's U.S. Marine Terminal Operations from DP World.
- Article from:
- Business Wire
- Article date:
- March 16, 2007
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NEW YORK -- AIG Global Investment Group ("AIGGIG") announced that it has completed the purchase of 100 of the stock P&O Ports North America ("POPNA") from P&O Holdings, Inc., a wholly-owned subsidiary of global marine terminal operator, DP World. Following the closing of the transaction, the company will operate as Ports America, Inc. This transaction was previously announced on December 11, 2006.
Ports America, Inc.'s operations principally comprise marine terminal concessions in the ports of New York/New Jersey, Philadelphia, Baltimore, Miami, Tampa and New Orleans, coupled with stevedoring operations in 16 locations along the East and Gulf Coasts and a ...