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,.
AD Ports Group on Thursday announced that it has reached an agreement to acquire a 70 per cent equity stake in International Associated Cargo Carrier BV,
The UAE s AD Ports Group today announced that it has reached an agreement to acquire a 70 per cent equity stake in an Egyptian container shipping company, WAM reported. The total purchase conside.