AD Ports Group, a leading global enabler of integrated trade, industry and logistics solutions, today announced the signing of a Memorandum of Understanding (MoU) with the Kuwait Ports Authority (KPA), the principal developer and operator of commercial ports and logistics zones, to explore the development and operation of container operations at Shuaiba Port.
The MoU signing, held in Kuwait City was witnessed by Dr Noura Al Mashaan, Minister of Public Works of the State of Kuwait; and Dr Thani Bin Ahmed Al Zeyoudi, Minister of Foreign Trade.
The MoU was signed by Sheikh Khaled Salem Al Sabah, Director-General of the Kuwait Ports Authority; and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group.
Under the terms of the MoU, AD Ports Group will prepare the technical, environmental, and financial feasibility studies, in accordance with internationally recognised specifications and standards agreed by both parties, in addition to identifying infrastructure requirements for the project.
In support of this collaboration, the Kuwait Ports Authority will designate the project site at Shuaiba Port, and collaborate with AD Ports Group in completing the required studies, as well as facilitate the obtention of all necessary licences and approvals from relevant Kuwaiti authorities.
Khaled Salem Al Sabah said, “This agreement reflects the Kuwait Ports Authority’s commitment to strengthening cooperation with AD Ports Group in the maritime transport and ports sector, and to promoting joint investment and economic collaboration based on mutual interests and shared benefits. We are pleased to work with AD Ports Group, a leading global enabler of trade, industry and logistics, on the development of Shuaiba Port, as well as the operation of the container terminal and its quays. We are confident that this collaboration will enhance the port’s capabilities and strengthen its role in supporting maritime trade and transport in the State of Kuwait.”
Captain Juma Al Shamisi stated, “Our cooperation with the Kuwait Ports Authority, represents an extension of the strong partnership between AD Ports Group and leading institutions in the State of Kuwait. This collaboration aligns with the vision of our wise leadership in the UAE, aimed towards sharing our expertise and best practices with our partners across the GCC. As a leading provider of integrated trade and logistics solutions and a global developer of ports, terminals and related infrastructure, AD Ports Group would leverage its extensive experience to ensure the success of this project.”
Cash Mandatory Tender Offer: AD Ports Group on Monday announced its intention to launch a cash Mandatory Tender Offer (MTO) to acquire an additional stake in Alexandria Container & Cargo Handling Company (ALCN), which would give it majority ownership and control of one of the largest container terminal operators in Egypt.
The control of ALCN, which operates two strategic Mediterranean terminals at Alexandria and El-Dekheila ports, will complement the Group’s expansion into Egypt and generate tangible financial returns for AD Ports Group.
To gain control over ALCN and have a successful transaction, AD Ports Group would need to acquire close to 32 per cent through the MTO.
The Group in November acquired its first position in ALCN, a 19.3 per cent stake, from Saudi Egyptian Investment Company’s (SEIC), a wholly-owned subsidiary of the Public Investment Fund (PIF) of Saudi Arabia, via a block trade.
The proposed transaction is expected to be completed in Q2 2026, subject to regulatory approvals in Egypt.
Under Egyptian securities exchange rules, AD Ports Group is required to make an MTO to all shareholders once it intends to acquire a third of ALCN.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, stated, “By acquiring a majority stake in ALCN, we would be maximising our engagement and expanding our operational footprint along one of the world’s most critical maritime routes. This investment would support our efforts to facilitate trade through this vital corridor, while deepening our partnerships and expanding our investments in Egypt, one of our fastest-growing foreign markets.”
He added that this major strategic deployment in Egypt would be fully aligned with the leadership’s directives to drive economic diversification, strengthen regional integration, and deliver long-term value for our stakeholders.
Under the terms of the MTO, AD Ports Group will offer EGP22.99 per share, targeting a minimum uptake of close to 32 percent to gain control over ALCN.
WAM