Maintaining a special relationship requires deals to benefit both sides. State-controlled DP World and Canadian pension fund CDPQ have co-invested in ports across the world for the past seven years. Now the Montreal-based fund is paying $5bn for a 22 per cent stake in its flagship Jebel Ali port and associated assets. It gains exposure to one of the world’s busiest ports in return for a generous outlay that will reduce DP World’s debt pile.
DP World took on $8.1bn of extra…
