By Ted Bridis, Associated Press Writer | November 27, 2006

WASHINGTON –A Dubai-owned company will accept final bids within two weeks for the sale of all $700 million worth of its U.S. port operations to an American buyer, a plan forced by concerns over terrorism security.

The U.S. subsidiary for DP World, the world’s third-largest ports company, disclosed its new sales timetable Monday in letters to U.S. lawmakers. It did not identify the expected bidders but said they were finalizing financial arrangements.

“Bidders have already been provided with a draft of the sales contract for their review, which will speed up the final contract negotiations,” the company said in its letter, a copy of which was obtained by The Associated Press.

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