AIG Buys U.S. Container Ports From DP World

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nsurance company American International Group bought six U.S. container ports from the United Arab Emirates’ state-owned DP World, Bloomberg reported Monday.

While details of the sale were not disclosed, DP World had been seeking $700 million for the ports, Bloomberg reported, citing Lloyd’s List.

The deal included container port facilities in New York/Newark, N.J., Baltimore, Philadelphia, New Orleans and Tampa, Fla., Bloomberg said.

DP World decided to sell the ports, which it acquired in February, after facing pressure from U.S. lawmakers in the wake of a congressional outcry over security concerns. (Click here for previous coverage.)