British court rejects appeal to stop port deal

| Monday, March 06, 2006

The British High Court has rejected an appeal from a Miami company to stop a controversial deal that would turn some U.S. port operations over to a company owned by the government of the United Arab Emirates.

The Miami company, Eller & Co., had been rejected once by the High Court, but filed an appeal Friday, March 3, claiming that its business could be harmed by U.S. concerns about Dubai Ports World controlling operations at six major U.S. ports.

Bloomberg reported that Eller & Co. is a business partner of London-based Peninsular & Oriental Steam Navigation Co., the company at the heart of the Middle Eastern firm’s takeover bid.

Forbes reported that three High Court judges unanimously rejected Eller’s appeal Monday, March 6.

Though the British courts have approved the transaction, Dubai Ports World is still in the midst of a 45-day review period in the U.S.

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