Mubadala agrees to sell stake in Abu Dhabi Terminals

Stake will be sold to the remaining shareholder, Abu Dhabi Ports, for an undisclosed amount
A picture shows containers at Khalifa Port in Abu Dhabi. (KARIM SAHIB/AFP/GettyImages)
By Staff writer
Wed 25 Apr 2018 01:53 PM

Mubadala Investment Company and Mubadala Infrastructure Partners (MIP) have agreed to sell their combined equity interest of 50 percent in Abu Dhabi Terminals (ADT).

The stake will be sold to the remaining shareholder, Abu Dhabi Ports for an undisclosed amount, a statement said.

ADT is the first commercial port operator in Abu Dhabi and its core business is to operate and manage a 30-year concession at the Khalifa Port 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 CEO 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.

Mohamed Juma Al Shamsi, CEO 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”.

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Last Updated: Wed 25 Apr 2018 02:07 PM GST

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