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Dubai PW ports deal to close by Monday-US official

Written by: Staff
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WASHINGTON, Mar 2 (Reuters) Dubai Ports World's 6.85 billion dollar acquisition of Britain's P&O will close tomorrow or Monday, despite an additional 45-day review by the US government in response to security concerns, a US Treasury Department official said today.

''My understanding is that the deal will not close today,'' Deputy Treasury Secretary Robert Kimmitt told a Senate panel.

''Although they had announced March 2 as the closing date ...

that deal will not now close until tomorrow or Monday.'' Kimmitt made his statement in response to a question from lawmakers on the Senate Banking Committee.

REUTERS SI RAI0003

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