Abu Dhabi Ports acquires 70% of two Egyptian companies at $140 mln ...Egypt

Abu Dhabi Ports Group announced that it reached an agreement to acquire 70 percent of the shares of the International Cargo Subsidiary, which is wholly owned by Transmar and Transcargo International (TCI) which are based in Egypt. According to a statement by the group obtained by Al-Masry Al-Youm on Friday, the total value of the deal amounted to AED 514 million, equivalent to US$140 million, as it will be fully financed from the group’s cash reserves, which amounts to AED 3 billion.   This agreement was signed on March 31, 2022. This deal is the first international acquisition of Abu Dhabi Ports Group. Transmar is a container line operating in the Middle East, the Red Sea, the Arabian Gulf

Read More Details
Finally We wish PressBee provided you with enough information of ( Abu Dhabi Ports acquires 70% of two Egyptian companies at $140 mln )

Also on site :

• Legendary Hard Rock Band Racks Up the Heavy Metal as Iconic Album Hits Sales of 20 Million
• 7UP Confirms Return of Limited-Edition Flavor That Once Flew Off Shelves
• U.S. Suspends Student Visa Scheduling Amid Expanded Social Media Vetting