AD Ports Group has announced plans to launch a cash Mandatory Tender Offer (MTO) to acquire an additional stake in Alexandria Container & Cargo Handling Company (ALCN).
ALCN operates two key Mediterranean terminals at Alexandria and El-Dekheila ports. Gaining control over the company will expand AD Ports Group’s presence in Egypt and generate financial returns.
To secure majority control, the group aims to acquire approximately 32 per cent through the MTO.
In November, AD Ports Group acquired its initial 19.3 per cent stake from Saudi Egyptian Investment Company, a subsidiary of Saudi Arabia’s Public Investment Fund, via a block trade.
The MTO is expected to conclude in Q2 2026, pending regulatory approvals in Egypt. Under Egyptian securities regulations, acquiring a third of ALCN triggers the requirement to make an offer to all shareholders.
READ: AD Ports Group posts record Q3 profit
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “Acquiring a majority stake in ALCN will expand our operational footprint along a critical maritime corridor.
“This investment supports trade facilitation and strengthens our presence in Egypt, one of our fastest-growing foreign markets, while delivering long-term value for our stakeholders.”
The MTO will offer EGP 22.99 per share, targeting the minimum 32 per cent uptake to achieve control. Government shareholders, who hold most remaining shares, are expected to maintain their existing stakes. AD Ports Group is evaluating multiple financing options to support the offer.
ALCN is a highly profitable operator, with a net cash position of EGP 9.7 billion ($195 million) as of June 2025.
In FY2024-25, the company reported revenue of EGP 8.37 billion ($168 million), EBITDA of EGP 5.36 billion ($108 million) – an EBITDA margin of 64 per cent – and operating cash flow of EGP 4.93 billion ($99 million).
Established in 1984 and listed on the Egyptian Stock Exchange since 1995, ALCN has a combined container capacity of 1.5 million TEUs and throughput of 1.07 million TEUs, representing approximately 71 per cent utilisation in FY2024-25.
Its terminals, with a total quay length of 1.6 kilometres, are connected to Egypt’s national rail network, supporting multimodal connectivity.
READ: AD Ports, LDC partner on clean bulk facility at Karachi Port
Major customers include Mediterranean Shipping Company (MSC), Evergreen, and Hapag-Lloyd.
Strategically located near the Suez Canal, which handles 12–15 per cent of global trade and nearly 30 per cent of container traffic, ALCN terminals account for roughly 60 per cent of Alexandria’s total container capacity.
The acquisition is expected to unlock operational synergies through digitalisation, sustainability initiatives, and terminal management improvements.
Both terminals can handle large container vessels and will benefit from AD Ports Group’s operational standards and technology.
For more information:
AD Ports Group – https://www.adportsgroup.com/en
