AD Ports Group, a leading global enabler of integrated trade, industry, and logistics solutions, has announced its intention to launch a cash Mandatory Tender Offer (MTO) to acquire a controlling stake in Alexandria Container & Cargo Handling Company (ALCN).
The move will grant AD Ports majority ownership and control of one of Egypt’s largest container terminal operators, further expanding its footprint in the region’s strategic maritime sector.
The control of ALCN, which operates two strategic Mediterranean terminals at Alexandria and El-Dekheila ports, will complement the Group’s expansion into Egypt and generate tangible financial returns for AD Ports Group.
To gain control over ALCN and have a successful transaction, AD Ports Group would need to acquire close to 32 percent through the MTO. The Group in November acquired its first position in ALCN, a 19.3 percent stake, from Saudi Egyptian Investment Company (SEIC), a wholly-owned subsidiary of the Public Investment Fund (PIF) of Saudi Arabia, via a block trade.
Captain Mohamed Juma Al Shamisi MD and Group CEO AD Ports
“By acquiring a majority stake in ALCN, we would be maximising our engagement and expanding our operational footprint along one of the world’s most critical maritime routes. This investment would support our efforts to facilitate trade through this vital corridor, while deepening our partnerships and expanding our investments in Egypt, one of our fastest growing foreign markets. This major strategic deployment in Egypt would be fully aligned with the directives of our wise leadership to drive economic diversification, strengthen regional integration, and deliver long-term value for our stakeholders.”
Under the terms of the MTO, AD Ports Group will offer $0.48 (EGP 22.99) per share, targeting a minimum uptake of close to 32 percent to gain control over ALCN.
According to AD Ports, “In light of AD Ports Group’s intention to acquire an additional stake in ALCN and to launch an MTO, the governmental shareholders, who hold most of the remaining shares in ALCN, will maintain their current respective shareholding stakes in ALCN.”
The proposed transaction is expected to be completed in the second quarter of 2026, subject to regulatory approvals in Egypt. Under Egyptian securities exchange rules, the Group is required to make an MTO to all shareholders once it intends to acquire a third of ALCN.
