Canada's CDPQ invests $5b in DP World's UAE assets

RIYADH, June 06 (Arab News): Global investment group CDPQ has entered into an agreement to invest $5 billion in three of DP World's flagship UAE assets, including Jebel Ali Port, the Jebel Ali Free Zone, and the National Industries Park.

The Quebec pension fund company will invest $2.5 billion in these three assets through a new joint venture in which it will hold 22 per cent stake, while the remaining fund will be financed by debt, the company said in a press release.

Other long-term investors will have the opportunity to acquire an additional stake of up to $3 billion, it added.