UAE's AD Ports Group Acquires Stake in EGX-Listed Terminal Operator ALCN for $278mln

UAE's AD Ports Group acquires stake in EGX-listed terminal operator ALCN for $278mln

The acquisition strengthens AD Ports Group’s position along the Asia–Middle East–Europe trade corridor and deepens its presence in Egypt’s container terminal market.

AD Ports takes stake in Egyptian box terminal operator

AD Ports Group has moved to deepen its presence in Egypt’s container sector with the acquisition of Saudi Egyptian Investment Company’s (SEIC) entire 19.3% stake in Alexandria Container & Cargo Handling Company (ALCN) in a deal valued at around $278m. The transaction marks another step in AD Ports’ wider expansion strategy in the eastern Mediterranean …

AD Ports buys $28m PIF stake in Egyptian port operator

19% stake in ALCN Bought from PIF subsidiary Will facilitate trade flows AD Ports Group has acquired a 19 percent stake in Alexandria Container & Cargo Handling Company (ALCN), one of the largest container terminal operators in Egypt, for nearly $28 million (EGP 13.24 billion). The stake was purchased from Saudi Egyptian Investment Company (SEIC), a wholly owned subsidiary of the Public Investment Fund, AD Ports said in a statement to the Abu Dh…