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Asharq Al-Awsat
Asharq Al-Awsat
Business
Abu Dhabi - Asharq Al-Awsat

AD Ports Completes Acquisition of Majority Stake in Transmar, Transcargo International

Group AD Ports Group Egypt TCI Red Sea Gulf North Africa
Abu Dhabi Ports (WAM)

Abu Dhabi Ports Group said on Wednesday it completed the acquisition of a 70 percent equity stake in Egypt’s Transmar International Shipping Company (Transmar) and Transcargo International (TCI), with a total value of the deal amounting to $140 million.

The acquisition of the two Egypt-based maritime companies is the first international acquisition realized by AD Ports Group.

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