Egypt’s Holding Company for Maritime and Land Transport has rejected an offer submitted by a subsidiary of Abu Dhabi Ports Group (ADPORTS: ADX) to acquire an additional stake that would have raised its ownership to around 90% of Alexandria Container and Cargo Handling Company (ALCN: EGX), Al Borsa reported on January 9. 

The Abu Dhabi Ports affiliate, Black Caspian Logistics Holding, which currently owns 19.32% of Alexandria Container Terminal, had submitted a potential, non-binding mandatory tender offer in December 2025 to buy the remaining shares needed to reach a 90% stake.

Alexandria Container Terminal operates two strategic Mediterranean terminals at the ports of Alexandria and El Dekheila, with a combined capacity of 1.5mn twenty-foot equivalent units (TEUs). During FY 2024/25, the company handled 1.07m TEUs, representing an operating rate of 71%.

Alexandria Container Terminal said in a statement that it received a formal letter from the Holding Company for Maritime and Land Transport, which owns 35.37% of its share capital, stating that it does not wish to sell its stake.

In November 2025, the Abu Dhabi Ports subsidiary acquired its 19.32% holding in Alexandria Container Terminal through a deal worth about EGP 13.2bn ($279.4mn) in one of the largest foreign investments in Egypt’s port sector.

At the time, the Saudi Egyptian Investment Company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), said it had sold its entire 19.32% stake to Abu Dhabi Ports Group as part of its strategy to recycle capital and pursue new investment opportunities in Egypt.

Alexandria Container Terminal serves several leading global shipping lines and reported revenues of EGP 8.37bn and earnings of EGP 6.09bn before interest, tax, depreciation and amortisation during FY2025.

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