ZAWYA: ADQ moves to consolidate control of Egypt's Alexandria Containers under AD Ports

About this update from Abu Dhabi Ports Company Pjsc

Staff WriterAbu Dhabi-listed AD Ports Group said its wholly owned subsidiary Black Caspian has submitted a draft mandatory tender offer (MTO) to Egypt’s Financial Regulatory Authority (FRA) to increase its stake in Alexandria Container & Cargo Handling Company (ALCN).Alpha Oryx, which holds the stake on offer, is a portfolio company of ADQ just as is AD Ports. ALCN operates Alexandria and El Dekheila ports, which account for 60% of the Alexandria region’s container capacity.The MTO is a regulatory step required under Egyptian rules after the group crossed the 33% ownership threshold. ADQ first acquired a 32% stake in 2022, before AD Ports added a further 19.3% last November, taking combined control above 50%.The revised offer price of EGP 27.47 per share is 19.5% higher than the earlier EGP 22.99 per share proposal made in December 2025 but stands at a 2.4% discount to ALCN’s most recent closing price of EGP 28.15.Black Caspian, which currently holds 19.3% of ALCN, is seeking to acquire an additional 32% of the share capital, from Alpha Oryx, alongside a tender for up to 4.3% from minority shareholders.ALCN’s net profit rose 10% YoY to EGP 1.94 billion in Q1, 2026, supported by an 8% increase in the number of containers handled during the period.The proposed transaction remains subject to regulatory approvals.(Writing by Ahmad Mousa; editing by Seban Scaria)[email protected]: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

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