Dubai: DP World on Thursday denied reports that the government of Djibouti had offered to buy its 33 per cent stake in the Doraleh Container Terminal.

A DP World spokesperson said that any party entering into an agreement with the government of Djibouti with regards to the terminal would risk being liable for damages.

“Any party entering into any agreement or arrangement with the Djibouti government in respect [to] Doraleh Container Terminal … risks being liable in damages for interfering with DP World’s rights under its contract, which remains in force,” the spokesperson said.

“We consider such action to be illegal, and will pursue our legal rights against any such third parties.”

The comments come after media reports earlier this week quoted the chairman of the Djibouti Ports and Free Zone Authority as saying the Authority was ready to buy out DP World’s stake in the terminal.

A spokesperson for the Dubai-based ports operator reiterated that the “aggressive action” taken by the government of Djibouti to ban the company from operating the Doraleh terminal was illegal, which is why it filed a case with the Court of International Arbitration in London.

A DP World-owned entity designed, built, and has operated the terminal pursuant to a concession awarded in 2006.

Last month, Djibouti’s government said it was terminating its contract with DP World for the Doraleh Container Terminal because of a failure to resolve a dispute that began in 2012. DP World has since insisted that the actions by the government are illegal.

Sultan Bin Sulayem, DP World Group chairman and chief executive officer, at a press conference two weeks ago called the actions “unfortunate,” and said they would hurt Africa as a whole.

“For Africa as a continent, this action [by Djibouti’s government] is going to set them back. If countries can change their policies, it is going to make it more difficult to attract investments in Africa in general. Banks will be very careful in financing in Africa,” he said.

Bin Sulayem added at the time that the government of Djibouti “is getting the wrong advice,” and that agreements should be respected.

DP World had earlier also said the actions by the government will have no material financial impact to the group.

DP World share prices were trading at $22.5 on Thursday, ending the day 0.44 per cent lower.