Cerberus Eyes Strategic Buy as Darwin Port Faces Ownership Shift
Cerberus Capital Management, a U.S. private equity firm, is exploring the acquisition of the Darwin Port lease from the Chinese operator Landbridge amid Australian government efforts to bring the port into local ownership. The port, crucial for strategic military activities, has garnered political and diplomatic attention.
U.S.-based Cerberus Capital Management is considering a strategic acquisition of Darwin Port's lease from Landbridge, its current Chinese operator. This move coincides with the Australian government's initiative to reclaim domestic control over the port.
Cerberus representatives have met with key port officials, although the prospect hasn't been formally discussed with Landbridge's board. China's diplomatic circle has criticized Australia's plans to regain control, reflecting geopolitical sensitivities.
Australian authorities, meanwhile, are actively seeking potential local investors for the crucial port, a vital cog in their defense strategy. The evolving situation underscores strained international relations amid national security and investment concerns.
(With inputs from agencies.)
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