AD Ports Group acquires 19% stake in Alexandria Container & Cargo Handling Company
AD Ports Group has acquired Saudi Egyptian Investment Company’s (SEIC) 19.328% equity stake in Alexandria Container & Cargo Handling Company (ALCN), one of the largest container terminal operators in Egypt, in a deal valued at approximately EGP13.2bn (US$278m).
The acquisition marks a significant milestone in AD Ports Group’s expansion strategy in Egypt and reinforces its position as a key facilitator of trade in the Mediterranean region.
The investment aims to enhance AD Ports Group’s ability to facilitate trade flows along the main East-West corridor connecting Asia, the Middle East and Europe, while advancing Egypt’s vision for economic diversification and sustainable development.
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