Treasury Department Statement on CFIUS Review of Ports Deal/Facts and Resources on CFIUS and Dubai Ports World Deal
The Treasury Department issued a rare Sunday press release stating that "the Committee on Foreign Investment in the United States (CFIUS) today welcomed the announcement by Dubai Ports World that it will submit for review its proposed acquisition of control of U.S. port terminal operations." The press release states that Dubai Ports World "asked for a CFIUS review, including the 45-day investigation under the Exon-Florio amendment, based on a restructured transaction that the company intends to file with the Committee. Upon receipt of the new notification, CFIUS will promptly initiate the review process and fulfill DPW's request for a full investigation."
For those interested in the CFIUS process, see the Treasury Department's website for detailed information on the Exon-Florio law and the CFIUS process.
Customs and Border Protection (CBP) also posted information on its web site with facts on U.S. port security and the DP World transaction. Contrary to the reports in the mainstream press stating that DP World "take over six U.S. ports" the CBP website states that under the proposed transaction DP World operate the following terminals at the following six ports that are currently operated by U.K.-based P&O:
It's also worth taking a look at the fact sheet entitled DP World: Myth Vs. Fact" issued by the White House.
Labels: CFIUS
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