Egypt’s Holding Company for Maritime and Land Transport, a state-owned firm, announced its firm rejection of any offer aimed at selling its stake in Alexandria Container and Cargo Handling Company (ACCHC).

The Egyptian company’s decision came after Black Caspian Logistics Holding Limited, a UAE logistics services provider and a subsidiary of Abu Dhabi Ports Group, said it intends to submit a potential mandatory purchase offer at 22.99 Egyptian pounds per share to raise its ownership to 90 per cent of the company’s capital.

The holding company, which owns approximately 35.37 per cent of Alexandria Container and Cargo Handling Company (ACCHC) shares, confirmed in an official letter sent to the company listed on the Egyptian Stock Exchange that it has no desire to sell any part of its stake. It is committed to maintaining its full investment rights and has no intention of exiting in the near future.

The Emirati company currently owns 19.32 per cent of the shares, after acquiring a stake in November 2025 that previously belonged to the Saudi Egyptian Investment Company.

Founded in 1984 and listed on the stock exchange since 1995, Alexandria Container and Cargo Handling (ACCHC) is Egypt’s largest container terminal operator. It runs two main terminals at the ports of Alexandria and El Dekheila, with a total capacity of 1.5 million twenty-foot equivalent units (TEUs) per year. Actual handling reached 1.07 million TEUs in the 2024/2025 financial year, with an operating rate of 71 per cent.

The company has reported very strong financial performance. Revenues in the last financial year reached 8.37 billion Egyptian pounds, net profit for the first quarter of 2025/2026 stood at about 1.73 billion pounds, net cash reached around 9.7 billion pounds by June 2025, and the profit margin was high at 64 per cent. (MEM)