The Hindu Business Line : Assets kick off controversy

As many as eight bidders are believed to be in the race for acquiring Dubai Port World's US assets. Initially, there were about 100 contenders, including infrastructure funds, private equity houses and others.

In a recent letter to the US lawmakers, Mr Nick Luff, the official-in-charge of the sale arrangements, stated that the eight bidders, along with their present companies, were US firms. In some cases, the bidder may work with minority partners, whose parent companies are in Europe, Japan or Canada.

The news wire claims that DPW has verified the authenticity of the letter signed by Mr Luff. All these exercises became necessary as the DPW's acquisition of P&O's US assets kicked off controversy in the US.

The deal, although cleared by the Bush Administration, ran into rough weather following uproar in the US Congress over national security fears.

In an effort to end the row, DPW announced that it would sell the American assets it had acquired as part of the deal it struck with P&O for acquisition of its assets worldwide.

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