Potential Port Bidders Need To Sign Confidentiality Pacts To Receive Books

Contrary to media reports, acquirors interested in Dubai Ports World’s U.S. operations did not receive books last month, a source close to the divestiture process told Mergers & Acquisitions Report. Instead, potential bidders received a two-page summary of the assets–which the source described as a “teaser”–and confidentiality agreements to sign and return in order to receive books. When asked who received the preliminary materials, the above source, who requested anonymity, responded, “I’ve heard the initial roster of interested parties was in the neighborhood of 100 bidders.” He added, “The interested parties are financial sponsors, strategic bidders in the shipping industry and infrastructure fund managers.” The source did not know how many of the possible buyers are based in the U.S.