Abu Dhabi’s AD Ports buys Spanish logistics firm Noatum for $681m

Ad Port Group, Emirate’s Industrial City and Free Zone Operator Has Acquired Spanish Integrated Logistics Platform Noatum, Continues Expansion globally.

100% owned by Spanish companies with an enterprise value of AED 2.5 billion (US$ 681 million), Abu Dhabi Port in one say statement to the Abu Dhabi Stock Exchange where its shares are traded. The transaction will be fully funded through a new acquisition loan.

According to AD Ports Group, the “value and revenue accretive acquisition” significantly expands AD Ports Group’s global footprint and places it among the world’s leading logistics and freight forwarding companies.

Falah Al Ahbabi, Chairman of AD Ports Group, said: “This ambitious acquisition brings to the AD Ports Group family a major global logistics platform, significantly enhancing our global connectivity and expanding our maritime, logistics and ports range of solutions.”

“This acquisition positions AD Ports Group as one of the foremost global players in finished vehicle logistics, which we intend to expand in our domestic and core markets.”

The acquisition of Noatum is Abu Dhabi Ports Group’s third international investment this year, as the company continues to expansion.

In September, the company complete the acquisition Acquired a 70% stake in the Egyptian International Consolidated Cargo Company for 514 million dirhams.the deal is announced in julygiving AD Ports Group a majority stake in IACC’s Egyptian Maritime Shipping Company, Transmar International Shipping Company and Transcargo International portfolios.

Earlier this month, AD Ports Group acquired an 80% stake in Dubai-based global container shipping company Global Feeder Shipping for AED 2.9 billion, implying a 100% enterprise value of AED 3.7 billion.

GFS, which has one of the world’s largest container fleets, will be integrated into AD Ports’ maritime cluster, which already offers a comprehensive portfolio of shipping, offshore and subsea services, the company said at the time.

Noatum said Noatum has “high growth potential and ability to expand” and that AD Ports intends to create a market-leading international logistics brand by merging its existing logistics business with the company.

“Going forward, Noatum will lead AD Ports Group’s logistics cluster, integrating the company’s existing logistics offerings into its operations,” the company said.

With origins dating back to 1963, Noatum operates in three business areas – Logistics, Maritime and Port Terminals – with market leading positions in Spain and Turkey and strong presence in the US, UK, China and Southeast Asia.

Noatum operates in 26 countries and had revenues of AED 6.91 billion in the past 12 months. Despite its geographic diversification, about 75% of its revenue is denominated in dollars or euros.

Captain Mohamed Al Shamisi, AD Ports Managing Director and Group Chief Executive Officer, said: “Adding Noatum to our integrated business network will add scale and new layers of expertise, supporting our global ambitions and our contribution to the diversification of the UAE’s economy. “.

“Noatum’s asset-light model with a high cash conversion rate will immediately contribute to our financial position.”

Established in 2006, AD Ports Group owns and operates 10 ports in the UAE, including Khalifa Port, Zayed Port, Mussafah Port, Fujairah Terminal, Community Port, Kamsar Port and Abu Dhaka than a cruise terminal, and a pier in Guinea.

In addition to providing a range of maritime services, it also manages over 550 square kilometers of industrial estate and end-to-end logistics operations.

AD Ports Group ADX debut In February, after raising AED4 billion through a share sale, August Sign a preliminary agreement Discuss joint investment opportunities in Tanzania with India’s Adani Ports.

Too Cooperate with Hong Kong Hutchison Port Identify business opportunities for logistics and port activities in the GCC, Africa and Asia maritime and logistics sectors.

company owned sign protocol Developing logistics and food trade projects in Uzbekistan and working with the Aqaba Development Corporation to develop tourism, logistics, transport and digital infrastructure in Jordanian coastal cities.

Updated: November 18, 2022, 7:07am