AD Ports completes first international acquisition for $140m

The group said its investment totalled AED 514m ($140m) and is its first realised international acquisition.

With the pair of acquisitions in Egypt, AD Ports looks to improve its platform in the country, North Africa and the Gulf Region.

Regional container shipping outfit Transmar operates across the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa. Leaning into the main trades on its routes, Transmar has special petrochemical handling capabilities and calls Ajdabiya, Sokhna, Jeddah, Jubail, Dammam, Aqaba, Port Sudan, Djibouti, Khalifa Port and Jebel Ali.

Transcargo International (TCI) is a terminal operator and stevedoring company specialising in project cargo, heavy lift, breakbulk, industrial breakbulk, general cargo and container handling. It also has warehousing and storage facilities.

TCI has a strong focus on terminal operations in in Adabiya Port, a main port for the Red Sea region, and holds a strong market share of services in the port.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “The successful completion of this international acquisition is another important step in our journey of global growth and market expansion in line with the vision of our wise leadership. AD Ports Group prides itself on its proven ability to invest in value-adding partnerships and acquisitions that enhance our portfolio of services and provide new trade connections for our global customers.”

Add Seatrade Maritime News to your Google News feed.