Mubadala, MIP reach deal to sell 50% equity interest in Abu Dhabi Terminals to Abu Dhabi Ports

ABU DHABI, Mubadala Investment Company and Mubadala Infrastructure Partners, MIP, have agreed to sell their combined equity interest of 50 percent in Abu Dhabi Terminals, ADT to the remaining shareholder, Abu Dhabi Ports, for an undisclosed amount.

ADT is the first commercial port operator in the Emirate of Abu Dhabi. Its 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,” said Khaled Al Qubaisi, Mubadala’s Chief Executive Officer of Aerospace, Renewables and 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.

Captain Mohamed Juma Al Shamsi, Chief Executive Officer of Abu Dhabi Ports, 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, 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.

Source: Emirates News Agency