{"id":710322,"date":"2026-06-14T00:00:00","date_gmt":"2026-06-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=710322"},"modified":"2026-06-14T02:54:54","modified_gmt":"2026-06-14T02:54:54","slug":"ad-ports-bumps-up-alex-containers-offer-to-egp-27-47-per-share-to-consolidate-51-3-majority","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/06\/14\/ad-ports-bumps-up-alex-containers-offer-to-egp-27-47-per-share-to-consolidate-51-3-majority\/","title":{"rendered":"AD Ports bumps up Alex Containers offer to EGP 27.47 per share to consolidate 51.3% majority"},"content":{"rendered":"

The Abu Dhabi wealth fund ADQ-owned AD Ports Group is finalizing its consolidation of Alexandria Container and Cargo Handling Co<\/strong>mpany (ALCN)<\/strong>, according to a statement (pdf)<\/a> from the Financial Regulatory Authority (FRA). Black Caspian Logistics \u2014 a subsidiary of the Emirati company \u2014 submitted a draft mandatory tender offer (MTO) to the FRA to acquire up to 90% of the EGX-listed port operator, valuing the shares at EGP 27.47 per piece.<\/p>\n

The mechanics: <\/strong>The transaction will see Black Caspian acquire sister company Alpha Oryx\u2019s 32% stake in ALCN, AD Ports said in a statement (pdf)<\/a>. To satisfy the FRA\u2019s mandatory-offer framework, the agreement includes a tender offer to acquire up to 127.5 mn shares \u2014 or 4.3% \u2014 from freefloat shareholders. Subject to regulatory approvals, the transaction is expected to close in the second half of 2026.<\/p>\n

REMEMBER-<\/strong> AD Ports Group secured a stake in ALCN in November<\/a> when it acquired the PIF-owned Saudi Egyptian Investment Company\u2019s 19.3% stake for EGP 13.24 bn. This gave ADQ a combined 51.33% majority stake in ALCN, following its acquisition of a 32% indirect ownership through Alpha Oryx in 2022<\/a>.<\/p>\n

Same file, higher price:<\/strong> This is the same MTO file we saw late last year<\/a>. The FRA granted Black Caspian a 60-day extension in March<\/a> to finalize its bid. The new EGP 27.47 per share price represents a 19.5% premium over AD Ports\u2019 initial EGP 22.99 offer, but comes about 3.1% below the share\u2019s closing price of EGP 28.36 on Thursday.<\/p>\n

Why it matters:<\/strong> ALCN operates the Alexandria and El Dekheila terminals, managing a combined annual capacity of 1.5 mn TEUs and handling around 60% of Alexandria\u2019s container capacity. That makes it one of Egypt\u2019s most important Mediterranean gateway assets \u2014 and a core piece of AD Ports\u2019 wider Egypt buildout across ports, shipping, maritime services, and logistics.<\/p>\n

The state isn\u2019t selling:<\/strong> The 90% figure is the regulatory ceiling, not the practical base case under the transaction. ALCN\u2019s updated ownership structure as of April shows state-linked holders still owning 42.9% \u2014 split between the Holding Company for Maritime and Land Transport at 35.3% and the Alexandria Port Authority at 7.6% \u2014 according to an EGX disclosure (pdf)<\/a>. The Madbouly government is sitting tight<\/a>on its 40% stake<\/a>, opting to wait for the Mediterranean gateway asset to appreciate further rather than divest at current valuations.<\/p>\n","protected":false},"excerpt":{"rendered":"

The MTO is essentially an internal restructuring play for Abu Dhabi\u2019s ADQ to move its Egyptian maritime assets under one roof<\/p>\n","protected":false},"author":1,"featured_media":710323,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12717],"tags":[8646,68,72,76,145,12716,8835],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-710322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-wach","tag-ad-ports","tag-egx","tag-enterpriseam","tag-financial-regulatory-authority","tag-logistics","tag-ma-wach","tag-maritime","wpautop","entry"],"acf":{"mongo_id":"7e653ec0-a439-4013-80f2-06e156435deb","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/1762.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Changing pockets","related_issue":[710314],"teaser":"The MTO is essentially an internal restructuring play for Abu Dhabi\u2019s ADQ to move its Egyptian maritime assets under one roof"},"yoast_head":"\nAD Ports bumps up Alex Containers offer to EGP 27.47 per share to consolidate 51.3% majority - 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It\u2019s been a busy one in the press, and we look forward to winding down even as the temperatures are set to spike.THE BIG STORY TODAY- ?AD Ports acquires 19.3% of Alexandria Container & Cargo Handling Company:\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/381.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644583,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/29\/amoun-wants-a-majority-stake-in-egx-listed-atlas\/","url_meta":{"origin":710322,"position":2},"title":"Amoun wants a majority stake in EGX-listed Atlas","author":"enterpriseam admin","date":"29 September 2024","format":false,"excerpt":"Amoun is after 65.59% of Atlas for Investment and Food Industries","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":633038,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/26\/mondi-applies-for-fra-approval-of-mto-to-acquire-suez-bags\/","url_meta":{"origin":710322,"position":3},"title":"Mondi applies for FRA approval of MTO to acquire Suez Bags","author":"enterpriseam admin","date":"26 February 2018","format":false,"excerpt":"M&A WATCH- Mondi Paper Sales applied for Financial Regulatory Authority (FRA) approval of a mandatory tender offer to acquire the remaining 70.1% stake in Suez Bags, according to a FRA statement on Sunday (pdf). Mondi plans to acquire 7.7 mn shares for for EGP 26.01 per share, valuing the transaction\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547456,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/chimera-makes-official-offer-for-beltone-financial\/","url_meta":{"origin":710322,"position":4},"title":"Chimera makes official offer for Beltone Financial","author":"enterpriseam admin","date":"22 June 2022","format":false,"excerpt":"The Financial Regulatory Authority (FRA) has received an official offer by Chimera Investments to acquire up to 90% of Beltone Financial, the regulator said in a disclosure to the EGX (pdf) yesterday. 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