Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
AD Ports Group acquired PIF-owned Saudi Egyptian Investment Company’s entire 19.33% stake in Alexandria Container and Cargo Handling Company in a transaction valued at EGP 13.24 bn, the Abu Dhabi wealth fund ADQ-owned ports operator said in a statement (pdf). The transfer of shares, which was funded with a mix of its own funds and debt, will take place tomorrow.
(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)
ADQ will now indirectly hold a combined 51.33% majority stake in the EGX-listed maritime logistics firm when taking into account its 32% indirect ownership through Alpha Oryx.
Alexandria Container and Cargo Handling operates two terminals in Alexandria and El Dekheila with a combined annual capacity of 1.5 mn TEUs, accounting for some 60% of Alexandria’s total container capacity. The company reported EGP 8.4 bn in revenue and EGP 6.1 bn in adjusted EBITDA last fiscal year.
AD Ports is no stranger to Egypt, and its interest in the country seems to be rising. Since 2022, AD Ports Group has ramped up its presence in Egypt, acquiring a majority stake in maritime, logistics, and cargo services provider Safina Shipping Services, securing long-term concessions for the USD 200 mn Safaga multipurpose terminal, developing three Red Sea cruise terminals, and signing a 50-year renewable agreement to operate Kezad East Port Said, a 20 sq km industrial and logistics hub at the Suez Canal.
IN OTHER M&A NEWS-
Sharks Mohamed Farouq and Ahmed Tarek expressed interest in acquiring a controlling 90% stake in Zahraa Maadi Investment and Development for EGP 6.3 bn, according to an EGX disclosure (pdf). The EGP 6.95 per share offer gives shareholders an approximately 11% premium over Thursday’s closing share price, according to our calculations.
The investors say they’ll proceed only after reaching an agreement with Zahraa’s key shareholders, completing due diligence, and securing regulatory clearance. The board is set to review the approach at its next meeting.
