Abu Dhabi–based AD Ports Group has announced its intention to launch a Mandatory Tender Offer (MTO) to acquire an additional stake in Alexandria Container & Cargo Handling Company (ALCN), a move that would give it majority ownership and operational control of one of Egypt’s largest container terminal operators.
Commenting on the development, Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said the acquisition would deepen the group’s engagement along one of the world’s most critical maritime corridors. “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,” he noted.
ALCN operates two strategically important Mediterranean terminals at Alexandria and El-Dekheila ports, making it a key gateway for Egypt’s container trade. Gaining control of ALCN is expected to support AD Ports Group’s expansion in Egypt, while also delivering tangible financial returns. The group also plans to drive innovation across terminal operations, with a focus on digitalisation, efficiency and sustainability.
AD Ports Group first entered ALCN’s shareholding structure in November, acquiring a 19.3% stake from the Saudi Egyptian Investment Company (SEIC) through a block trade. To secure majority control, the group now aims to acquire close to an additional 32% of shares through the MTO.
Under the proposed offer, AD Ports Group will offer EGP 22.99 per share and is targeting a minimum uptake of around 32% to gain control. The transaction is expected to be completed by the second quarter of 2026, subject to regulatory approvals in Egypt.
In line with Egyptian securities exchange regulations, the MTO is mandatory once an investor intends to acquire at least one-third of a listed company. Governmental shareholders, who hold a significant portion of ALCN’s remaining shares, are expected to retain their existing shareholdings following the transaction.
