With a statement to the Egyptian Stock Exchange, yesterday Alexandria Container & Cargo Handling Co. (ALCN) has announced that the Holding Company for Maritime and Land Transport, which is owned by owned by the Ministry of Industry and Transport of the Cairo, rejected an offer made by Black Caspian Logistics Holding Ltd. Co., a wholly owned subsidiary by the Emirati maritime, logistics and port group AD Ports, for obtain a total of 90% of the share capital of the ALCN through the acquisition of 35.3% of the capital in the hands of the government Egyptian offering about 580 million dollars. The offer, from an economic point of view compared to the first advanced at the end of last year ( of 15 December 2025), was presented in recent days.

The second offer from Black Caspian, which currently owns 19.3% of ALCN, plans to acquire 953,442,176 shares of ALCN, equal to 32% of the share capital, by Alpha Oryx, subsidiary of AD Ports, as well as an offer to shareholders of the free float up to 127,510,844 shares of the ALCN, or up to 4.3% of the share capital, at the unit price per share of 27.47 Egyptian pounds (0.55 US dollars). With the acquisition of a controlling stake in ALCN, Black Caspian, under the rules of Egyptian market, would be obliged to submit a public offer for the remaining shares of ACLNs held by the State, which He currently owns 42.9% of the company's shares, 35.3% through the Holding Company for Maritime and Land Transport and 7.6% through the Port Authority of Alessandria.

Alexandria Container & Cargo Handling Co. operates two container terminals in the Egyptian ports of Alexandria and Dekheila.