Abu Dhabi Ports Company PjscADX: ADPORTS

AD Ports Group Sells 9.77% Stake In NMDC Group To Alpha Dhabi Holding For AED 1.6 Bln

· Issued by Abu Dhabi Ports Company PJSC

ABU DHABI PORTS COMPANY ADX:ADPORTS:

  • SELLS 9.77% STAKE IN NMDC FOR AED 1.6 BILLION

  • SELLS 9.77% STAKE IN NMDC GROUP TO ALPHA DHABI HOLDING

  • WITH PURCHASE OF AD PORTS GROUP’S STAKE, ALPHA DHABI’S STAKE IN NMDC GROUP, WILL INCREASE TO APPROXIMATELY 77%

  • PROCEEDS FROM NMDC TRANSACTION, WILL BE USED TO DE-LEVER GROUP’S BALANCE SHEET AND RECYCLE INTO HIGHER RETURN PROJECTS