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Government declines sale of Alexandria Container stake
Alexandria Container Terminal Company announced that the Port Authority of Alexandria and the Maritime and Land Transport Holding Company refuse to sell their shares in the company to comply with the mandatory purchase offer made by Black Caspian Logistics Holding Limited. The subsidiary of Abu Dhabi Ports had previously proposed in June to buy a 19.33% stake at a price of 27.47 Egyptian pounds per share, representing a 19.5% increase over the previous offer. This rejection aims to protect the ownership of the two entities from a potential takeover, amidst ongoing negotiations regarding the sale of their stakes, in line with the policy of maintaining current control.
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