AD Ports on the offensive
Abu Dhabi-based AD Ports Group has acquired a 100% stake in Noatum, a global logistics player headquartered in Spain. The Noatum Group is present in 26 countries and generates yearly revenues and ebitda of AED 6.91 billion (EUR 1.80 billion) and AED 555 million (EUR 145 million), respectively.
The transaction value is AED 2.5 billion (EUR 660 million). Noatum, whose origins date back to 1963, operates in three business areas – logistics, maritime, and port terminals – with strong positions in Spain and Turkey and a significant presence in the USA, UK, China, and Southeast Asia.
Amongst others, the company runs 15 ro-ro, dry bulk, general cargo and container terminals in Spain. In particular, Noatum has advanced capacities in heavy lift logistics, which AD Ports Group aims to bring to the region.
This expansion is AD Ports Group’s third major international acquisition in 2022, following the purchase of a 70 % equity stake in Transmar and TCI in September, and the announcement in November of its acquisition of an 80% equity stake in Dubai-based Global Feeder Shipping (GFS). Subject to regulatory approvals, the transaction is expected to close in the course of H1/2023. (sh)