The international ports of Abu Dhabi have announced the conclusion of an agreement with China Merchants Group. The agreement was signed within the framework of a strategic partnership.
Under the terms of the agreement, China Merchants Group will acquire 90% of the shares in the holdings of Abu Dhabi Ports (AD Ports) for 5.07 billion dollars. This is one of the largest deals in the port sector, represented by another state.
The Director of Strategy at China Merchants Group emphasized the importance of this partnership: “We are pleased to collaborate with AD Ports and believe that this will be a mutually beneficial partnership.”
According to the press release, this partnership will allow for more effective use of AD Ports’ infrastructure and facilitate its further development.
