Abu Dhabi Ports acquires majority stake in two Egyptian companies by $140M – Egypt Today

Abu Dhabi Ports acquires majority stake in two Egyptian companies by $140M – Egypt Today

Abu Dhabi Ports Group has completed the acquisition of 70 percent of the stakes of Transmar International Shipping International "Transmar" and Transcargo International "TCI", with a total value of the deal amounting to $140 million. The acquisition of these two Egyptian-based companies is the first international acquisition of Abu Dhabi Ports Group, and provides it with a market-leading platform that ensures further growth in container and cargo volumes and port operations in Egypt, North Africa, the Gulf region, and the entire Red Sea region. Last year, Abu Dhabi Ports significantly expanded its global presence through a number of investments and partnerships in the markets located on the main trade routes of the UAE, which include Jordan, Uzbekistan, Tanzania and Egypt. Transmar is a container line operating in the Middle East, the Red Sea, the Arabian Gulf and the eastern coast of the African continent. The list of ports that fall within the shipping lines served by it include Adabiya and Ain Sukhna in Egypt, Jeddah, Jubail and Dammam in Saudi Arabia, Aqaba in Jordan, Port Sudan in Sudan, Djibouti in Djibouti, in addition to Khalifa and Jebel Ali Ports in the UAE. The company has specialized capabilities in handling petrochemical