Abu Dhabi’s Mubadala sells terminals stake to Abu Dhabi Ports

Abu Dhabi’s Mubadala Investment Company and infrastructure fund manager Mubadala Infrastructure Partners have agreed to sell their 50 per cent stake in Abu Dhabi Terminals (ADT) to Abu Dhabi Ports.

ADT is the emirate’s fire commercial port operator and manages a 30-year concession at the Khalifa Port Container Terminal.

The deal makes Abu Dhabi Ports the sole shareholder of ADT.

The value of the transaction was not disclosed.

“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 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.”

Abu Dhabi Ports CEO captain Mohamed Juma Al Shamsi said the company was committed to growing ADT and attracting more shipping lanes to Khalifa Port.

Abu Dhabi Ports operates 11 ports and hosts of average of 25,000 ships and hour.

Last year, the firm was said to be considering an initial public offering.

Read: Abu Dhabi Ports denies plans for listing