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Carlyle drops out of Virginia port contest

Tuesday, October 16, 2012

Investment fund manager The Carlyle Group informed the state of Virginia this month that has withdrawn its proposal to operate the Port of Virginia. State officials, including the Virginia Port Authority (VPA), are still considering offers from APM Terminals and RREEF, the real estate arm of Deutsche Bank, to take operational control of the state's marine terminals in Hampton Roads and an inland port in Front Royal for 48 to 50 years in exchange for large payments and inf...

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