The Globe and Mail reports in its Monday edition that Barrick chairman emeritus Peter Munk is selling investment in Porto Montenegro, the eastern Mediterranean superyacht marina and resort, to Investment Corp. of Dubai for an undisclosed amount. The Globe's Eric Reguly writes that the price is thought to be $200-million (U.S.) or more. The sale price is expected to leave Mr. Munk and his investors whole, with maybe a small profit. ICD is Dubai's sovereign wealth fund. It has been an open secret that Mr. Munk has been trying to sell Porto Montenegro for a year or longer. The marina and resort are located on a former Serbian naval base on the Bay of Kotor, on the Adriatic Sea. Mr. Munk owns 52 per cent of Porto Montenegro's holding company. Almost two years ago, the $60-million (U.S.) Regent Porto Montenegro five-star hotel was added to the property portfolio. The sale of a nearby shipyard is thought to be included in the sale to ICD. The precise reasons for the sale are not known, but Mr. Munk apparently felt that he had taken Porto Montenegro as far as he could. It appears that ill health was the other motivating factor behind the sale. He underwent heart surgery last year.