PIF subsidiary exits Alexandria Containers: PIF-owned Saudi Egyptian Investment Co. sold its full 19.33% stake in Egypt’s Alexandria Container and Cargo Handling Company to AD Ports Group for around EGP 13.24 bn (c. USD 278 mn), according to a statement from the Emirati firm (pdf). The transfer of shares, which was funded via a mix of AD Ports’ own funds and debt, will take place this Monday.

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Big returns: Saudi Egyptian Investment Co. logged USD 237 mn in returns from its investment in Alexandria Containers, an unnamed source told Asharq Business. The company had bought the stake in 2022 for USD 126 mn, gaining gross returns of USD 363 mn after the sale, the source added.

ADQ will now indirectly hold a combined 51.33% majority stake in Alexandria Containers, when taking into account its 32% indirect ownership through Alpha Oryx.

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