AIG Buys Controversial Ports

AIG Global Investment Group has agreed to purchase six port terminals for DP World of < ?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Dubai. No financial terms were disclosed, although the asking price was reported to have been around $700 million. DP World acquired the assets earlier this year, via its $6.8 billion purchase of UK-based Peninsular & Oriental Steam Navigation Company, but was convinced to sell after the idea of a Dubai-based company owning U.S. ports sparked a political furor in the States.