Dubai World puts Inchcape on the block

INCHCAPE Shipping Services is the first company put up for sale by Dubai World, the troubled Middle Eastern conglomerate, as it tries to restructure its $22bn (£13.8bn) debt pile. The maritime firm is expected to sell for up to $700m and is thought to have drawn interest from buyout groups Advent, Cinven, Charterhouse, Montagu, TPG and KKR.