DP World Limited is nearing a deal to buy Cargo Services Far East Limited from Hong Kong tycoon John Lau, people familiar with the matter said, a move that would give the Dubai port operator a bigger footprint in Asia. The companies are finalizing the details of a transaction that could be announced as early as in the coming days, the people said, asking not to be identified because the matter is private. A potential deal could be valued at $300 million to $400 million, depending on composition of the assets, the people said.

A representative for Cargo Services Far East declined to comment, while a representative for DP World didn't immediately respond to a request for comment. Bloomberg News reported in November that DP World was in talks to acquire Cargo Services Far East.