Dubai Asset Sales Pick Up as $20 Billion in Debt Comes Due 2011

Sales of Dubai’s holdings are gaining momentum a year after the emirate’s corporate flagship shook world markets with plans to freeze payments on $24.9 billion in loans.

DP World Ltd., the port operator, agreed yesterday to sell 75 percent of its Australian unit, raising $1.5 billion. Borse Dubai Ltd., which controls Dubai’s two stock exchanges, raised $672 million Dec. 16 by selling about half its stake in Nasdaq OMX Group Inc., owner of the second-largest U.S. equity exchange. Both companies said they will use the proceeds to pay down debt.

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