In an ambitious move aimed at enhancing its foothold in Egypt’s strategic maritime sector, AD Ports Group has unveiled plans for a cash mandatory tender offer to acquire an additional stake in the Alexandria Container & Cargo Handling Company (ALCN). By doing so, the Abu Dhabi-based group seeks to elevate its ownership to a controlling stake that approaches 32 percent, underscoring its commitment to expanding its influence in one of Egypt’s primary container terminal operators.
This latest endeavor builds on AD Ports Group’s current 19.3 percent stake in ALCN, which was acquired last November from the Saudi Egyptian Investment Company, a subsidiary of Saudi Arabia’s Public Investment Fund, through a block trade. Under Egyptian securities regulations, any investor aiming to control at least one-third of a listed company must issue a mandatory tender offer, making this initiative a legally obligated next step for AD Ports Group.
The anticipated timeline for completing this transaction is set for the second quarter of 2026, pending approvals from Egyptian regulatory bodies. Such regulatory compliance is crucial in bolstering investor confidence and ensuring a transparent acquisition process. AD Ports Group believes that securing a majority stake in ALCN aligns perfectly with its broader strategy to enhance operations and financial performance within the region.
ALCN operates two pivotal container terminals located at the ports of Alexandria and El-Dekheila, situated along the vital Mediterranean maritime corridor. With its increased stake, AD Ports Group aims to bolster its operational footprint in Egypt, contributing not only to its growth objectives but also to the overall economic landscape of the region. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, articulated the significance of this investment, emphasizing its potential to drive trade and navigate one of the world’s most critical maritime routes effectively.
According to the terms of the proposed offer, AD Ports Group will present a purchase price of EGP 22.99 per share, with the hope of achieving a minimum uptake of 32 percent to secure control of ALCN. Notably, governmental shareholders in Egypt, who currently own a substantial portion of ALCN, will retain their existing stakes following this tender offer. This dynamic illustrates a collaborative approach, recognizing the importance of governmental partnerships in major investment endeavors.
To facilitate this ambitious transaction, AD Ports Group is exploring several financing avenues. The group’s decision will hinge on selecting the most financially beneficial structure, ultimately aimed at enhancing its investment value. The stakeholders anticipate that the acquisition will yield more than a 3 percent increase in revenue, drawing upon ALCN’s financial performance projections for the fiscal year 2024–25.
ALCN, which has been a formidable player since its establishment in 1984 and became publicly listed in 1995, reported impressive financial metrics for the year ending June 2025. The company generated a revenue of EGP 8.37 billion and an EBITDA of EGP 5.36 billion, alongside an operating cash flow reaching EGP 4.93 billion. On top of these robust figures, ALCN boasts a healthy net cash position of EGP 9.7 billion, positioning it favorably for future growth.
With a combined container handling capacity of 1.5 million Twenty-foot Equivalent Units (TEUs), ALCN recorded throughput of 1.07 million TEUs in the 2024–25 fiscal year. The company’s infrastructure includes a total quay length of approximately 1.6 kilometers and seamless connectivity to Egypt’s national rail network. Its strategic location enables ALCN to serve major shipping lines like Mediterranean Shipping Company, Evergreen Marine Corporation, and Hapag-Lloyd, further embedding it in the global supply chain.
This venture is particularly timely, as the region’s importance grows amidst global trade patterns. Positioned along trade routes linked to the Suez Canal, a critical artery that accounts for 12 to 15 percent of global trade annually, AD Ports Group’s acquisition would further enhance its significance in the maritime logistics landscape.
Since 2022, AD Ports Group has been proactive in expanding its presence in Egypt, diversifying its interests across shipping, terminal operations, and maritime services. Future prospects include the opening of the Noatum Ports Safaga terminal in 2027 and the development of cruise terminals at various Red Sea ports, alongside an industrial and logistics park at East Port Said, stemming from a long-term agreement established in 2025.