4.9 billion! The old logistics giant was sold at a high price
Time:2022-12-29
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The Middle East port logistics giant AD Ports Group announced the acquisition of Noatum, a logistics company headquartered in Spain, at a price of 680 million US dollars (about 4.9 billion yuan). It is reported that the Middle East port logistics giant AD Ports Group announced the acquisition of Noatum, a logistics company headquartered in Spain, at a price of 680 million US dollars (about 4.9 billion yuan). This is a global integrated logistics group with operations in 26 countries. AD Ports said that this transaction significantly expanded its global business scope and made it one of the world‘s leading logistics and freight forwarding companies.
It is understood that Noatum was founded in 1963 and operates in three business areas: logistics, shipping and port terminals. Its market share is mainly concentrated in Spain and Türkiye. It also has business in the United States, the United Kingdom, China and Southeast Asia.
Noatum‘s global logistics business focuses on integrated freight management, project logistics, contract logistics, international supply chain management, customs and electronic solutions, and has offices and extensive agent networks around the world.
According to AD Ports Group, Noatum has advanced capabilities in heavy cargo logistics, and the Group hopes to introduce it to the Middle East. Noatum‘s terminal business includes 15 ro/ro, dry bulk, general cargo and container terminals in Spain, while its maritime department provides freight forwarding and cargo services, such as liquid bulk, bulk cargo, refrigerated and dry bulk cargo.
AD Ports said that in recognition of the high growth potential and scale capacity of Noatum, AD Ports Group intends to create a market-leading international logistics brand by merging its existing logistics business with Noatum, in order to establish a significant influence in the Middle East and strengthen its services in the global scope. In the future, Noatum will lead the logistics cluster of AD Ports Group and integrate the Group‘s existing logistics services into its business.
"This acquisition makes AD Ports Group one of the most important global players in the field of vehicle logistics, and we intend to expand this business in the local and core markets." said Falah Al Ahbabi, chairman of AD Ports Group, "This ambitious acquisition has brought a major global logistics platform for AD Ports Group, greatly enhanced our global connectivity, and expanded the range of shipping, logistics and port solutions we can provide while we continue to pursue a firm growth strategy."
"This historic acquisition will become one of the most significant acquisitions in the industry this year," said Mohamed Al Shamisi, Managing Director and CEO of AD Ports Group.
After being approved by the regulatory authorities, the transaction is expected to be completed in the first half of 2023.
This transaction marks the third major international acquisition of AD Ports Group this year. Previously, the Group acquired 70% of the equity of Transmar, a regional shipping company, and TCI, a terminal operator, in September, and 80% of Global Feeder Shipping (GFS), a regional shipping company headquartered in Dubai, earlier this month.
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