November 2025: AD Ports Group (ADQ, Abu Dhabi) bought the Saudi Egyptian Investment Company’s (PIF) entire 19.328% of ALCN for EGP 13.2bn (~US$272–278m), adding to the ~32% already held by Alpha Oryx (ADQ’s listed-investment arm). December 2025: AD Ports launched a mandatory tender offer at EGP 22.99/share to take its holding to majority (the Egyptian government holds 40% and is not selling); completion targeted 2Q 2026 subject to FRA approval.
ALCN runs Alexandria and El-Dekheila terminals (1.5m TEU capacity, 1.07m TEU handled in FY2025, EGP 8.37bn revenue) and is PIF’s showcase Egyptian exit, a Gulf-to-Gulf trade and a live MTO that Egyptian securities counsel are watching closely.
Value: ~US$272–278m + MTO at EGP 22.99/share (verified against public announcements).
Advisers: No legal adviser is identified in the public record reviewed by The Meridian.
Recorded by The Meridian research desk from public announcements, regulatory filings and financial press coverage. Dates and values are as publicly reported.
