Mubasher: Abu Dhabi Ports Company (AD Ports) has purchased the Saudi Egyptian Investment Company’s (SEIC) ownership in Alexandria Containers and goods in a deal valued at EGP 13.23 billion.
The ADX-listed group acquired a 19.32% stake in Alexandria Containers to enhance portfolio growth, realize returns, and redeploy capital into promising opportunities in the Egyptian market, according to a press release.
Moreover, the transaction will enable AD Ports to facilitate trade flows along the main East-West corridor connecting Asia, the Middle East, and Europe. This is in addition to advancing Egypt’s vision for economic diversification and sustainable development.
On its part, SEIC, a fully owned Public Investment Fund (PIF) subsidiary, will increase the value and competitiveness of its portfolio companies and redeploy capital toward new high-potential opportunities in Egypt.
Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports, said: “By acquiring a stake in ALCN, we are expanding our operational footprint in one of the world’s most critical maritime routes.”
“This investment supports our efforts to facilitate trade through this vital corridor, while deepening our partnerships and expanding our investments in Egypt,” he added.
Muteb Al Shathri, acting CEO of SEIC, commented: “SEIC continues to explore high-quality investment opportunities in promising sectors within the Egyptian market and to build long-term economic and strategic partnerships that create a positive impact on both the Egyptian and Saudi markets by driving growth and delivering sustainable returns.”
Al Shathri revealed: “The Saudi Egyptian Investment Company will utilize the proceeds of this transaction to pursue additional promising investment opportunities in the Egyptian market, reflecting its strong belief in the importance of the Egyptian market as a sustainable and thriving investment destination.”
In the first quarter (Q1) of fiscal year (FY) 2025/2026, the EGX-listed firm logged 9% lower net profits after tax at EGP 1.73 billion, compared to EGP 1.91 billion in the year-ago period.
