AD Ports Group has reached an agreement to acquire a 70% equity stake in International Associated Cargo Carrier B.V, marking the first international acquisition realised by the company.
International Associated Cargo Carrier B.V. wholly owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International S.A.E. (TCI).
H.E. Falah Mohammed Al Ahbabi, chairman of the AD Ports Group, said: “This is the first overseas acquisition in AD Ports Group’s history, and an important milestone in our ambitious international expansion plan.