Abu Dhabi acquires Egyptian maritime companies in $140m deal ...Kuwait

The Abu Dhabi Ports Group has reached a $140 million agreement to acquire majority stakes in two Egyptian maritime companies. The integrated trade enabling group agreed a 70 percent equity stake of the International Associated Cargo Carrier, which wholly owns Egypt-based companies - with “strong regional presences” - Transmar and Transcargo International (TCI). The deal is the ports group’s first international expansion to be realised, and will be fully funded from AD Ports Group’s existing cash reserves, according to a statement released by the group on Friday. “This is… an important milestone in our ambitious international expansion plan. This acquisition will suppo

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