AbuDhabi -- AD Ports Group has sold its 9.77% stake in National Marine Dredging Company (NMDC) to Alpha Dhabi Holding in a $436m transaction, marking the ports group’s third divestment of non-core assets this year.

The stake was originally transferred to AD Ports Group by Abu Dhabi’s investment arm ADQ ahead of the company’s listing in 2022. Over less than four years, the holding delivered a total shareholder return of 17% through dividends and capital gains, the Abu Dhabi-based ports and logistics giant said.

AD Ports said the sale fits its strategy to monetise non-core assets and recycle capital into higher-return opportunities while reducing leverage.

Proceeds from the deal will go toward strengthening the balance sheet, where the group reported AED 17bn ($4.62bn) in net debt at the end of September. Earlier divestments included land and logistics facilities sold to Mira Developments and Aldar Properties.

Group CEO Mohamed Juma Al Shamisi said the transaction reinforces AD Ports’ commitment to active portfolio management. “The proceeds strengthen the Group’s financial position and capital structure,” he said, adding that the company will continue reshaping its asset base to maximise value.

Alpha Dhabi, already the dominant shareholder, will see its stake in NMDC rise to around 77%. 

The Abu Dhabi-based investment group said the acquisition aligns with its focus on scaling industrial platforms tied to the UAE’s long-term economic agenda.

Alpha Dhabi CEO Hamad Salem Al Ameri said the deal reflects the company’s push into high-impact industrial sectors that “align with national priorities and global trends.”

UAE-based NMDC remains a major player in EPC and marine dredging, with a growing international footprint through multiple joint ventures.