• AD Ports plans a mandatory tender offer to acquire a majority stake in Alexandria Container & Cargo Handling Company.
• The move deepens AD Ports’ Egypt expansion around Alexandria and El-Dekheila, key terminals on a critical global trade route.
• Egyptian government shareholders will retain their existing stakes in ALCN following the planned transaction.

AD Ports

Abu Dhabi’s AD Ports announced its intention to launch a Mandatory Tender Offer (MTO) to acquire an additional stake in Alexandria Container & Cargo Handling Company (ALCN). This would give it majority ownership and control of one of the largest container terminal operators in Egypt. 

“By acquiring a majority stake in ALCN, we would be maximising our engagement and expanding our operational footprint along one of the world’s most critical maritime routes,” said Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.

The ALCN operates two strategic Mediterranean terminals at Alexandria and El-Dekheila ports. Thus, controlling the ACLN will support AD Ports’ expansion into Egypt and generate tangible financial returns. Additionally, with the acquisition, the ports group aims to drive innovation in terminal management, digitalisation, and sustainability. 

Acqusition 

The group first acquired a 19.3% stake in ALCN in November from the Saudi Egyptian Investment Company (SEIC) via a block trade. To acquire a majority stake and have a successful transaction, the Abu Dhabi-based ports group would need to acquire close to 32% through the MTO. The group expects that the proposed transaction will be complete by Q2 2026, subject to regulatory approvals in Egypt. Under Egyptian securities exchange rules, AD Ports Group is required to make an MTO to all shareholders once it intends to acquire a third of ALCN. 

Under the terms of the MTO, the ports group will offer EGP 22.99 per share. It is targeting a minimum uptake of close to 32% to gain control over ALCN. It is important to note that the governmental shareholders, who hold most of the remaining shares in ALCN, will maintain their current respective shareholding stakes in ALCN.