AD Ports completes acquisition of Noatum

The AED2.64 billion (EUR660 million) deal was signed on 30 June with AD Ports taking 100% ownership of Noatum.

The acquisition was completed following approval from Spanish and EU regulatory authorities.

Commenting on the deal Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, “We look forward to leveraging our integrated cross-Cluster business model and working together to unlock unprecedented value for our respective customers, partners and stakeholders. The future of trade and logistics relies on integration, resilience and innovation, and by taking this transformative step together we are charting a path to realising our collective mission of becoming one of the top global trade and logistics providers.”

Noatum has a presencve in 26 countries across major global markets, including Europe, Asia, Africa, North America and South America, with 143 international offices. It generated revenues AED6.4 billion last year with EBITDA of AED448m million.

Antonio Campoy, Chief Executive Officer, Noatum, said: “Throughout our 60-year history as a company, our goals have always been to build strong long-term projects, create new opportunities for the future, and grow alongside our clients, our people, and our stakeholders. Today, as part of AD Ports Group, these objectives are more meaningful than ever, as together we are going to build one of the most robust logistics companies in the world."

Related:AD Ports ventures into the shipyard sector

AD Ports has been expanding across the spectrum of the maritime supply chain including feeder shipping, tankers, dry bulk, logistics and shipyards.