Abu Dhabi, UAE: Mubadala Investment Company, the Abu Dhabi-based strategic investment company, and Mubadala Infrastructure Partners (MIP), an emerging markets infrastructure fund manager, have agreed to sell their combined equity interest of 50% in Abu Dhabi Terminals (ADT) to the remaining shareholder, Abu Dhabi Ports, for an un-disclosed 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 & 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.
About Abu Dhabi Ports Company
Abu Dhabi Ports was established in 2006, as a master developer and regulator of ports and industrial zones in Abu Dhabi. Abu Dhabi Ports operates 11 ports and hosts and average of 25,000 ships per year. Khalifa Port together with Khalifa Industrial Zone Abu Dhabi (KIZAD) are the major achievements of Abu Dhabi Ports to date. http://www.adports.ae/en/
About Mubadala Investment Company
Mubadala is a pioneering global investor, deploying capital with integrity and ingenuity to accelerate economic growth for the long-term benefit of Abu Dhabi. As Abu Dhabi’s leading strategic investment company, Mubadala is active in 13 sectors and more than 30 countries around the world, creating lasting value for our shareholder, the Government of Abu Dhabi. http://www.mubadala.com
About Mubadala Infrastructure Partners Limited
Mubadala Infrastructure Partners is an independent fund manager focusing on infrastructure investments in emerging markets. http://www.mip.ae
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© Press Release 2018