{"id":710646,"date":"2026-06-16T00:00:00","date_gmt":"2026-06-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=710646"},"modified":"2026-06-16T02:49:48","modified_gmt":"2026-06-16T02:49:48","slug":"alcn-sells-egypt-marine-ports-stake-to-state-parent","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/alcn-sells-egypt-marine-ports-stake-to-state-parent\/","title":{"rendered":"ALCN sells Egypt Marine Ports stake to state parent"},"content":{"rendered":"

Alexandria Container & Cargo Handling (ALCN) is <\/strong>moving up its entire 6.01% stake in Egypt Maritime Ports<\/strong> to one of its own corporate parents, state-owned Holding Company for Maritime and Land Transport, in an EGP 1.05 bn transaction, according to an EGX disclosure (pdf)<\/a>. The sale is structured as a compensation swap, with no money changing hands, a senior government official tells EnterpriseAM.<\/p>\n

What\u2019s the fair value? <\/strong>The related-party transaction covers 182.7 mn shares at a fair value of USD 0.111 per share, putting total consideration at c.USD 20.28 mn. The fair value study assumed a conversion rate of EGP 51.77 to the USD.<\/p>\n

A sprint to sign-off: <\/strong>ALCN had to change independent financial advisors less than three weeks before the fair value study was published. Elite Financial stepped in to complete the valuation \u2014 audited by Grant Thornton and BoD-approved \u2014 in less than 21 days.<\/p>\n

Mind the gap: <\/strong>Baker Tilly, which was originally tapped for the transaction \u2014 according to an earlier bourse filing (pdf)<\/a> \u2014 stepped back due to an independence issue under FRA rules. The firm had worked with ALCN within the preceding six months, which disqualifies it from serving as an independent financial advisor on a separate transaction during that period, a source close to the matter tells EnterpriseAM. <\/p>\n

The sale <\/strong>has nothing to do with Black Caspian\u2019s MTO for 90% of ALCN<\/strong>, the government official tells us. Discussions on the transaction have been underway since the start of the year, well before AD Ports submitted its sweetened offer, which the government is set to reject<\/a>, the source adds.<\/p>\n

Who sits at the cap table:<\/strong> AD Ports, which is owned by Abu Dhabi wealth fund ADQ, built a 51.33% majority<\/a> in ALCN across two moves \u2014 a 32% indirect stake<\/a> through Alpha Oryx in 2022, and an acquisition of PIF-owned SEIC\u2019s 19.3% for EGP 13.24 bn last November. The government controls a combined 42.9% blocking stake through the Holding Company for Maritime and Land Transport (35.3%) and Alexandria Port Authority (7.6%). <\/p>\n","protected":false},"excerpt":{"rendered":"

The related-party transaction covers 182.7 mn shares for a total consideration of USD 20.28 mn<\/p>\n","protected":false},"author":1,"featured_media":710647,"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":[7363],"tags":[8646,12722,72,145,9068,7128,8835],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-710646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-ad-ports","tag-alcn","tag-enterpriseam","tag-logistics","tag-ma","tag-ma-watch","tag-maritime","wpautop","entry"],"acf":{"mongo_id":"6a01394a-039e-4ddb-b117-ee356bbac936","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/314.jpg","photo_position":"above","homepage_title":"","full_issue_title":"ALCN trims portfolio","related_issue":[710636],"teaser":"The related-party transaction covers 182.7 mn shares for a total consideration of USD 20.28 mn"},"yoast_head":"\nALCN sells Egypt Marine Ports stake to state parent - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/alcn-sells-egypt-marine-ports-stake-to-state-parent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ALCN sells Egypt Marine Ports stake to state parent\" \/>\n<meta property=\"og:description\" content=\"The related-party transaction covers 182.7 mn shares for a total consideration of USD 20.28 mn\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/16\/alcn-sells-egypt-marine-ports-stake-to-state-parent\/\" 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MTO is essentially an internal restructuring play for Abu Dhabi\u2019s ADQ to move its Egyptian maritime assets under one roof","rel":"","context":"In "M&A WACH"","block_context":{"text":"M&A WACH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-wach\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1762.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":678581,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/18\/whats-really-happening-with-that-mto-for-alexandria-containers\/","url_meta":{"origin":710646,"position":1},"title":"What\u2019s really happening with that MTO for Alexandria Containers?","author":"enterpriseam admin","date":"18 December 2025","format":false,"excerpt":"AD Ports previously bought a 19.3% stake in ALCN from the Saudi Egyptian Investment Company","rel":"","context":"In "Logistics"","block_context":{"text":"Logistics","link":"https:\/\/enterpriseam.com\/egypt\/category\/logistics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2578.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":675954,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/20\/uae-ports-operator-acquires-seics-19-3-stake-in-alcn\/","url_meta":{"origin":710646,"position":2},"title":"UAE ports operator acquires SEIC\u2019s 19.3% stake in ALCN","author":"enterpriseam admin","date":"20 November 2025","format":false,"excerpt":"Good afternoon, friends, and congratulations on yet another successful workweek for the books. 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":676018,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/23\/adq-secures-indirect-majority-control-of-alexandria-container-cargo-handling-company\/","url_meta":{"origin":710646,"position":3},"title":"ADQ secures indirect majority control of Alexandria Container & Cargo Handling Company","author":"enterpriseam admin","date":"23 November 2025","format":false,"excerpt":"The group funded the acquisition through a mix of banknotes and debt","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\/2025\/11\/303.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":639928,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/18\/ad-ports-subsidiary-acquires-egyptian-maritime-services-provider-safina\/","url_meta":{"origin":710646,"position":4},"title":"AD Ports subsidiary acquires Egyptian maritime services provider Safina","author":"enterpriseam admin","date":"18 August 2024","format":false,"excerpt":"AD Ports acquired a 70% stake in Safina\u2019s parent company IACC Holdings in 2022","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\/8\/1478.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":603450,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/23\/heliopolis-housing-out-of-first-wave-of-stake-sales-no-stake-sales-during-summer\/","url_meta":{"origin":710646,"position":5},"title":"Heliopolis Housing out of first wave of stake sales; no stake sales during summer","author":"enterpriseam admin","date":"23 April 2019","format":false,"excerpt":"EXCLUSIVE- Heliopolis Housing dropped from first wave of state privatization program: Heliopolis Company for Housing and Development has been dropped from the lineup of companies included in the first wave of the state privatization program, Public Enterprises Minister Hisham Tawfik tells Enterprise. This leaves Abu Qir Fertilizers and Alexandria Containers\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\/2019\/4\/Egypt-state-privatization-program-IPOs.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/710646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=710646"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/710646\/revisions"}],"predecessor-version":[{"id":710685,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/710646\/revisions\/710685"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/710636"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/710647"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=710646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=710646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=710646"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=710646"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=710646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}