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Rail News: Intermodal

Dubai Ports finalizes CSX World Terminals deal

Dubai Ports International recently completed a transaction with CSX Corp. to acquire CSX World Terminals for $1.1 billion cash.

The transaction includes interests in 15 terminals in Asia, Europe, Australia and Latin America with a combined capacity exceeding 24 million 20-foot equivalent units, as well as logistics businesses in Hong Kong and China. Dubai Ports also acquires CSX World's 25 percent interest in a new South Korean port expected to open next year.

The parties financed the transaction through a $1.4 billion committed loan facility arranged and underwritten by Deutsche Bank AG, which served as Dubai Ports' financial adviser. Citigroup Global Markets served as CSX's financial adviser.

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More News from 2/23/2005