Dubai firm sells US ports to AIG

Dubai Ports World (DPW) has agreed to sell its US port operations to AIG Global Investment after American anger at the United Arab Emirates ownership.

When DPW took control of the six ports, as part of its purchase of P&O's ports in March, US politicians expressed fear at them being in Middle Eastern hands.

Chief executive Mohammad Sharaf said a cash deal had now been agreed "covering 100% of the US assets".