Abu Dhabi Ports in Talks for Africa Deal; Signs China Accord
- Chinese firms invest $300 million in Abu Dhabi industrial zone
- Africa deal would be second venture in continent after Guinea
As it prepares for a possible IPO, Abu Dhabi Ports says its biggest growth market is Africa. Bloomberg has reported that the government-run operator has met with investment banks and could raise one-billion dollars in a share sale on the local exchange. CEO Mohamed Juma Al-Shamisi told Bloomberg's Deena Kamel Africa is a key focus for the business. (Source: Bloomberg)
Abu Dhabi Ports is discussing a possible deal in Africa to take advantage of the continent’s growing trade with Asia, Chief Executive Officer Mohamed Juma Al Shamisi said, as the government-run terminal operator got a $300 million investment from China.
Shipping between Africa and Asia is “booming,” Al Shamisi said in a Bloomberg Television interview from the company’s headquarters in Abu Dhabi. He declined to identify who else is involved in the talks or where the venture might be.