Saturday 23 March 2019

Mubadala, MIP to sell 50pc stake in Abu Dhabi Terminals

ABU DHABI, April 24, 2018

Mubadala Investment Company, the UAE-based strategic investment company, said it has reached an agreement with Mubadala Infrastructure Partners (MIP), an emerging markets infrastructure fund manager, to sell their combined equity interest of 50 per cent in Abu Dhabi Terminals to the remaining shareholder, Abu Dhabi Ports.

ADT is the first commercial port operator in Abu Dhabi, whose core business is to operate and manage a 30-year concession at the Khalifa Port Container Terminal, the region’s first semi-automated and most technologically-advanced container terminal.

“Our strategic investment in ADT is a demonstration of our continued commitment to growing and developing core industry sectors in Abu Dhabi,” remarked Khaled Al Qubaisi, Mubadala’s Chief Executive Officer of Aerospace, Renewables & ICT.

“We are confident ADT will see even greater success as it starts its next chapter, while retaining its important role in Abu Dhabi’s economy,” he added.

Abu Dhabi Ports CEO Captain Mohamed Juma Al Shamsi said: "We wish to thank Mubadala and MIP for their valuable contribution since the inception of ADT. We are committed to continuing ADT’s growth and attracting more shipping lines to use Khalifa Port as their main hub port, consolidating its central role in Abu Dhabi’s port system and economy."

Commenting on the transaction, Philip K. Haddad, the managing partner of MIP, said: "ADT has consistently grown its activities throughout our ownership period."

"This is a testimony of our strong engagement with our partners and ADT’s management team who have implemented consistent strategic and operational improvements that continue to transform and drive ADT as a leading dynamic and innovative port operator in the region," he added.-TradeArabia News Service

Tags: Mubadala | Stake | Abu Dhabi Terminals | Mubadala Infrastructure Partners |

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