Dubai World to sell Inchcape Shipping

The investment arm of trouble UAE conglomerate Dubai World, Istithmar, has reportedly put London-based port and shipping agent Inchcape Shipping Service (ISS) up for sale, hoping to nab up to US$700 million. Advent International, Cinven, Charterhouse, Montagu, TPG and Kohlberg Kravis Roberts are among the private equity groups that have been named as potential buyers of Inchcape.