26.4 C
Dubai
Sunday, May 18, 2025
spot_img

Abu Dhabi AD Ports completes acquisition of logistics service provider Noatum – News

[ad_1]

Reuters

published: Sunday, July 2, 2023 at 9:46 pm

Last updated: Sunday, July 2, 2023 at 9:52 pm

Closing of transaction following final approval from Spanish authorities


read more…



Abu Dhabi-listed AD Ports Group has completed the acquisition of Spanish logistics services provider Noatum in a deal worth 660 million euros (Dh2.5 billion), the UAE company said on Sunday.

The company said in a statement that the deal was finalized last year after AD Ports received final approval from Spanish authorities.

On November 18 last year, AD Ports Group announced the acquisition of Noatum, a global integrated logistics platform with operations in 26 countries, with LTM revenue and EBITDA of AED 6.91 billion and AED 555 million, respectively.

The total purchase consideration (enterprise value) for 100% ownership amounted to AED 2.5 billion (EUR 660 million), implying an LTM EV/EBITDA of 4.6 times. The accretive and revenue accretive acquisition, to be fully financed through a new acquisition facility, will significantly expand AD Ports Group’s global footprint, placing it among the world’s leading logistics and freight forwarding companies.

Recognizing Noatum’s high growth potential and ability to expand, AD Ports Group intends to create a market-leading international logistics brand by merging its existing logistics business with Noatum to establish a significant presence in the region and strengthen the company’s global presence range of services. Looking ahead, Noatum will lead AD Ports Group’s logistics cluster, integrating the company’s existing logistics services into its operations.

This is AD Ports Group’s third major international acquisition in 2022, following the acquisition of 70% of Transmar and TCI in September and the acquisition of 80% of Dubai’s Global Feeder in November (GFS).

Noatum’s history can be traced back to 1963, and its business involves three business areas of logistics, shipping and port terminals, with market leading positions in Spain and Turkey, and important positions in the United States, United Kingdom, China and Southeast Asia.

[ad_2]

Source link

Related Articles

Mavent Restructuring Services LLP: Reinventing the Future of Corporate Turnaround

In a world where businesses are constantly navigating storms—economic shifts, market disruptions, and financial turbulence—some sink, and others evolve. Enter Mavent Restructuring Services LLP,...

Global Rankings Leader U.S. News & World Report Enters India with Investment in The Red Pen

With a growing appetite for international education among Indian students, this new partnership is set to reshape how families approach global admissions. For years, The...

Age Is Just the Beginning: How Hardik Dewan Is Transforming Youth Potential into Power

The Teenager Who’s Already Shaping India’s Future At an age when most are still figuring out college applications or their first internships, Hardik Kumar Dewan...

From Ocean Waves to Cityscapes: How Furquan Ahmed & Marine Group are Reshaping Lucknow

Some journeys begin with a well-thought-out plan. Others, however, are born from bold choices and an unwavering belief in oneself. For Furquan Ahmed, it...

From Coach to Catalyst: How Ashwinee Kalkura is Guiding Businesses Through Agile Transformation

Finding the Right Kind of Disruption In an era dominated by digital transformation, buzzwords often outpace real impact. But Ashwinee Kalkura is not here for...

Latest Articles