Egypt: AD Ports Buys 19.3% Stake in Alexandria Container Operator for $272m

AD Ports Group acquired a 19.3% stake in Alexandria Container & Cargo Handling Company from the Saudi Egyptian Investment Company in a deal valued at more than AED 1 billion ($272 million). The transaction expands the UAE group’s footprint in Egypt and strengthens its positioning along key Asia-Middle East-Europe trade routes.

ALCN operates container terminals in Alexandria and El-Dekheilla with combined capacity of 1.5 million TEUs and a utilisation rate of 71%. The company reported EGP 8.37…