AD Ports Group has acquired the global logistics platform Noatum, with a view to expanding maritime activities in the Mediterranean region and port facilities in Spain.
The purchase of Noatum which amounts to AED 2.5 billion (€660 million), significantly broadens AD Ports Group’s global footprint in global logistics and freight forwarding.
“This ambitious acquisition brings a major global logistics platform into the AD Ports Group family, significantly enhancing our global connectivity and extending the range of maritime, logistics and ports solutions we can offer as we continue to pursue a determined strategy for growth,” said H.E. Falah Mohammed Al Ahbabi, chairman of AD Ports Group.
Strategic acquisition
AD Ports Group intends to merge its existing logistics business with Noatum and moving forward, Noatum will head up AD Ports Group’s logistics cluster, consolidating the company’s existing logistics offering.
Noatum operates in three business areas – logistics, maritime and port terminals – with market-leading positions in Spain and Turkey and a significant presence in the US, UK, China and Southeast Asia.
The company’s terminals operations include 15 Ro-Ro, dry bulk, general cargo and container terminals in Spain, while its maritime division provides shipping agency services, including outsourcing and ancillary services and cargo services, such as liquid bulk, breakbulk cargo, reefer and dry cargo.
Subject to regulatory approvals, the transaction is expected to close in 2023.
This will be AD Ports Group’s third major international acquisition in 2022, following the acquisition of a 70% equity stake in Transmar and TCI in September and the acquisition of an 80% equity stake in Dubai-based Global Feeder Shipping (GFS) in November.
