DUBAI: Shares in Dubai port operator DP World rose on Thursday after the company said it would take over industrial and logistics infrastructure firm Economic Zones World (EZW) for $2.6 billion.
DP World, which trades on the emirate's smaller bourse NASDAQ Dubai, climbed 2.4 percent by midday, although trading volume in the stock remained low. Dubai's main index was up 0.3 percent.
A statement from DP World said the acquisition, which needs shareholder approval, would increase its earnings by 15 percent and generate a return of more than 7 percent on capital employed in its first full financial year.
Separately, DP World said it was seeking shareholder approval to delist its shares from the London Stock Exchange, while maintaining its NASDAQ Dubai listing. (Reuters)
