DP World says " arrangement between the Djiboutian government and a third party would be illegal"

[Suldaanka]

DP World has accused the government of illegally seizing control of the terminal

Ports operator DP World has said that no offer has come from the government of Djibouti to buys its 33 percent stake in the country’s Doraleh Container Terminal.

In a statement, a DP World spokesman warned that any agreement or arrangement between the Djiboutian government and a third party would be illegal.

“[We] will persue our legal rights against any such third parties,” the spokesman noting, adding that the Djiboutian government had illegally seized control of the terminal, forcing DP World to begin arbitration proceedings before the London Court of International Arbitration.

Following Djibouti’s seizure of the terminal in February, UAE Minister of State for Foreign Affairs Anwar Gargash tweeted that the issue “is regrettable.”

“Agreements, commitments and reassurances didn’t hold to arbitrary measures against DP World,” he added.

DP World, for its part, said the seizure of the terminal marks the culmination of the Djiboutian government’s efforts to force DP World to renegotiate the terms of the concession, which was awarded by the government in 2006. 

[Old_Observer]

Djibouti has taken control of everything period.

What ever DP could win is only money, no control.

What ever Djibouti uses, its own company, hired management company etc are not shareholders, its only management.

The only legal recourse DP has is be compensated what ever investment it had not recovered yet. Remember the outfit was profitable. DP can claim lost profit, but that is now failed road.

TPPs Globalism was supposed to be private companies telling governments. That has failed now everything is moving the other direction.

 

BTW the plan that Eritrea would stirr trouble and make Djibouti look unstable, is desd on arrival. The Ethiopians have told UAE the day something is done to destabilize Djibouti, Ethiopia will not send soldiers to Djibouti. Instead will be in Asmara from west in Sudan and from Ethiopia.