MENA Infrastructure Fund LP has divested its 30.33% stake in Alexandria International Container Terminals (“AICT”) to Hutchison Port Holdings following a competitive sale process. The transaction completed on Friday 26th of February 2016.
MENA Infrastructure Fund LP is a $300 million fund managed by MENA Infrastructure, a specialized infrastructure fund manager, established by HSBC, Fajr Capital and Waha Capital. MENA Infrastructure invested in AICT in 2008 alongside majority shareholder Hutchison Port Holdings.
AICT owns and operates two fully integrated container terminals at Alexandria and El Dekheila, with a capacity of approximately 680,000 TEUs. The Alexandria and El Dekheila port is considered one of the main commercial ports serving Egypt and Egypt’s main import-export hub on the Mediterranean, handling almost 60 percent of Egypt’s foreign trade.
H.E. Hussain Al Nowais, Chairman of MENA Infrastructure, said: “The fund’s investment in AICT has been very successful, contributing to the development of strategically important container terminals into important conduits of trade, linking Egypt to major overseas markets in Europe and North America”.
Jeronimo Roura, CEO of MENA Infrastructure, commented: “We are proud to have been an investor in the early life of AICT and overseen the transformation of the Alexandria and Dekheila port into world-class container facilities. This successful exit validates the investment strategy of MENA Infrastructure of partnering with leading developers of essential private infrastructure in high growth markets”.
This is the first exit by the MENA Infrastructure Fund LP, which was established in September 2007 to invest in infrastructure assets in the Middle East and North Africa region.
About MENA Infrastructure
MENA Infrastructure is a pre-eminent infrastructure equity investor and fund manager focusing on investments in the Middle East, North Africa and Turkey (MENAT) region.
Founded in 2007 and owned by HSBC, Fajr Capital and Waha Capital, MENA Infrastructure currently manages a US$300 million infrastructure fund from its headquarters in the Dubai International Financial Centre. MENA Infrastructure has executed some of the region’s landmark transactions and holds a collection of well-regarded awards which bear testament to its superior performance.
Alexandria International Container Terminals (AICT) is a joint venture between Hutchison Port Holdings, Al Blagha Holding Group and the Alexandria Port Authority that operates two fully integrated container terminals at Egypt‘s main commercial ports of Alexandria and El Dekheila in the Mediterranean Sea.
For further information:
Chief Executive Officer, MENA Infrastructure
T +971 4 270 6800