• Photo: AD Ports


Artikel Nummer: 42128

A big takeover for Abu Dhabi Ports

In mid-September 2022, the Abu Dhabi Ports Group completed the acquisition of a 70% equity stake in the Egyptian companies Transmar International Shipping Company (“Transmar”) and Transcargo International (“TCI”). The total value of the transaction amounts to AED 514 million (USD 140 million).


While Transmar is a regional container shipping company that operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa, TCI is a terminal operator and stevedoring company that specialises in project cargo handling, heavy lift, breakbulk, industrial breakbulk, general cargo and container handling, as well as warehousing and storage facilities.


It is the first international reach-out to be realised by AD Ports Group. The acquisitions aim at creating a platform for container, cargo and port operations in Egypt, North Africa and Gulf regions, and along the entire Red Sea.


Recently, the AD Ports Group ran a series of new investments and partnerships in markets on key trade routes for the UAE, including Jordan, Uzbekistan, Tanzania and Egypt.


Together, Transmar and TCI are on track to deliver revenue and ebitda of around USD 137 million and USD 65 million, respectively, for full-year 2022. The El Ahwal family and the executive team will remain in management of the companies. (sh)




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