AD Ports expands in Egypt with 19.33% ALCN stake: ADQ subsidiary AD Ports Group acquired PIF-owned Saudi Egyptian Investment Co’s full 19.33% stake in Alexandria Container & Cargo Handling Co in a transaction valued at EGP 13.24 bn (c.AED 1 bn), according to a company statement (pdf). The transfer of shares, which was funded with a mix of its own funds and debt, will take place this Monday.

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

ALCN 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 8.37 bn in revenue and EGP 6.09 bn in adjusted EBITDA for FY 2024-25.

AD Ports isn’t new to Egypt: 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.

The move also comes on the heels of its recent acquisition of a 20% stake in Syria’s Latakia International Container Terminal.

IN OTHER M&A NEWS-

Gulf Capital closes IVI-RMA exit: UAE-based private equity firm GulfCapital completed the sale of its 88% stake in its fertility clinic business Art Fertility Clinic’s Middle East operations to Spain- and US-headquartered medical group IVI-RMA Global, according to a LinkedIn post. The exit caps a five-year expansion push that saw Art Fertility scale from a UAE-focused operation into a regional platform with 15 clinics across the UAE, Saudi, and India. Gulf Capital framed the exit as the outcome of operational improvements and regional scale-up efforts.

REMEMBER- Gulf Capital started looking to sell Art Fertility back in March, and later in July it announced it had sold a majority stake in the IVF center to IVI-RMA Global, which is backed by US private equity firm KKK & Co. At the time it was reported that Gulf Capital will continue to own the 11 clinics in India.

Major Eshraq shareholder exits in AED 282 mn block trade: Inventive Investment Holding sold its entire 21.02% stake in Eshraq Investments — 564.6 mn shares — to United Motors & Heavy Equipment Co in a private transaction, according to an ADX disclosure (pdf). A matching block trade of the same size was executed on the exchange at AED 0.50 per share, valuing the transaction at AED 282.3 mn, Al Khaleej reports.

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