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Dubai World gears up to sell Gazeley: report

By A staff reporter 2012-02-09T00:00:00+00:00

International logistics property developer Gazeley may be put up for sale by its owner Economic Zones World (EZW), according to anonymous sources cited by Reuters news agency. EZW, a unit of Dubai World, is considering the sale to help repay 拢1.3 bn (EUR 1.5 bn) of debt, according to the report.

International logistics property developer Gazeley may be put up for sale by its owner Economic Zones World (EZW), according to anonymous sources cited by Reuters news agency. EZW, a unit of Dubai World, is considering the sale to help repay 拢1.3 bn (EUR 1.5 bn) of debt, according to the report.

EZW and Gazeley declined to comment to the media about the rumours.

Dubai World paid around 拢400 mln to acquire Gazeley from US retail giant Walmart in 2008. Gazeley has developed more than six million m² of industrial space in Europe, China and the Middle East.