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AD Ports Group has increased its stake in Global Feeder Shipping (GFS) to 81% by acquiring an additional 30% for 1.1 billion AED (300 million USD). GFS, based in Dubai, is the fourth largest container feeder shipping company in the world by capacity, according to the company.
In February 2024, AD Ports Group initially acquired 51% of GFS and had a call option to increase its stake by December 2026. This option has now been exercised, with the total value of the transaction amounting to 3.67 billion AED (1 billion USD). The financing is being carried out through a combination of debt and asset monetization.
Growth in the container feeder business
According to the company, AD Ports Group’s container feeder business has rapidly developed since its launch in 2020. GFS is considered one of the strategically most important assets of the group. During a time of maritime disruptions, GFS has maintained and expanded trade connections while other operators have withdrawn. This has enabled the uninterrupted flow of cargo for customers throughout the Gulf Cooperation Council (GCC) region. Additionally, GFS also serves markets in the Indian subcontinent, the Red Sea, the Far East, the Mediterranean, and Africa.
