Carlyle had nothing to do with Dubai Ports

[muriel_volestrangler]

There are several 'OMG!' posts about the Carlyle Group, because people have turned up Google posts linking it to a purchase of a division of CSX; and Dubai Ports World also purchased another division of CSX. But they are unconnected. Here's the timeline:

History of Sealand/CSX Lines/Horizon
1986
CSX Corporation buys Sea-Land. The move allows CSX, based in Richmond, V.A. to combine rail, sea and overland cargo movement.

1999
In March of 1999, CSX divides Sea-Land Service into 3 companies, a Global Liner Division, Sea-Land Domestic, and a Terminals Company.

On July 22, Sea-Land & Maersk announce Maersk Line's intention to purchase the Sea-Land's global liner division from CSX for $800 million dollars (US).

The Maersk acquisition of Sea-Land is completed on December 10 creating the largest container shipping carrier in the world, Maersk Sealand. CSX maintains ownership of the US domestic carrier, CSX Lines, as well as the terminal company, CSX Terminals.

2001
CSX Lines announces the formation of Horizon Services Group, created through the restructuring of the existing organization of CSX Lines. HSG will operate separately from CSX Lines operations and will provide ocean carriers and inland logistics customers world class, cost effective “order-to-cash” services through the integration of people, technology and business systems.

2003
In February, sale of the company to The Carlyle Group is completed. Newly named Horizon Lines, the company retains all its service offerings and continues under its existing, experienced management.

2004
In July, Castle Harlan purchases Horizon Lines from The Carlyle Group for $650 million. Horizon Lines continues as the largest domestic ocean carrier in the United States.

DPI buys CSA World Terminals from CSX
December 2004 - Dubai Ports International (DPI), one of the world’s leading port operators, announces that it has signed a definitive agreement with CSX Corporation (NYSE: CSX) to acquire the international terminal business conducted by CSX World Terminals (the Company) and other related interests for a cash consideration of US$1.15 billion, subject to customary adjustments.

2005
In March, Horizon Lines announces a proposed initial public offering of shares of its common stock.

So, we see that Carlyle bought, and sold, CSX's domestic ocean carrier business (under the name 'Horizon Lines') before Dubai was ever involved.

Whatever you think of Dubai getting control of those American ports, Carlyle is not involved, and is a distraction.

My thanks to DUer Emit for finding out that Carlyle sold Horizon Lines, and when it happened.

[northzax]

1. shh, stop with the details already-

we got a good fifteen minutes of hate going on.

[sandnsea]

2. Arabs and Bushes have nothing to do with each other, riiiight

Good thing we've got that big pile of ME sand to plant heads in.

Snow, Carlyle, CSX, Castle Harlan and Bill Donaldson SEC. And now we'e got our port operations sold to the UAE.

Oh, and after Carlyle sold Horizon Lines, they bought Verizon Hawaii. Communications.

Global Domination. Plain as the nose on your face.

[Solly Mack]

3. Much appreciated!!!!

Thanks for getting this out there.

Thank you, Emit!!