Emirates News Agency - AD Ports Group agrees to acquire majority stakes in Egypt's Transmar and Transcargo International

ABU DHABI, 1st July, 2022 (WAM) -- AD Ports Group today announced that it has reached an agreement to acquire a 70 percent equity stake in International Associated Cargo Carrier B.V., which wholly owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International S.A.E. (TCI).
The total purchase consideration (Enterprise Value) of this transaction amounts to AED514 million (US$140 million). The acquisition will be fully funded from AD Ports Group's existing cash reserves, which stood at over AED3 billion as of 31st March,...

Related Keywords

Red Sea ,Djibouti General ,Djibouti ,Egypt ,Ain Sokhna ,As Suways ,Sharm El Sheikh ,Janub Sina ,Egyptian ,Matouk Bassiouny ,El Ahwal ,Falah Mohammed Al Ahbabi ,Mohamed Juma Al Shamisi ,International Associated Cargo Carrier ,Ad Ports Group ,Wam Ad Ports Group ,Authority For Red Sea Ports ,Transmar International Shipping Company ,Egyptian Group For Multipurpose Terminals ,White Case ,Transcargo International ,Enterprise Value ,Middle East ,Arabian Gulf ,Eastern Coast ,Adabiya Port ,Mohammed Al Ahbabi ,North Africa ,Managing Director ,Egyptian Group ,Multipurpose Terminals ,Ain Sokhna Port ,General Authority ,Red Sea Ports ,Business ,