Abu Dhabi Ports Group acquires Spain’s Noatum in Dhs2.5bn deal

Abu Dhabi Ports Group acquires Spain’s Noatum in Dhs2.5bn deal

Abu Dhabi (AD) Ports Group has acquired Noatum, Spain’s integrated logistics platform. AD Ports Group intends to create an international logistics brand, merging its existing logistics business with Noatum to create a significant presence in the region and bolster services across the company’s global footprint. Noatum will lead AD Ports Group’s logistics cluster, consolidating the company’s existing logistics offering into its operations. The total purchase consideration for 100 per cent ownership amounts to Dhs2.5bn (EUR660m). The value and earnings accretive acquisition will be fully funded through a new acquisition loan. This will be AD Ports Group’s third major international acquisition in 2022, following the acquisition of a 70 per cent equity stake in Transmar and TCI in September, and the announcement in November of its acquisition of an 80 per cent equity stake in Dubai-based Global Feeder Shipping (GFS). Noatum, whose origins date back to 1963, operates in three business areas – logistics, maritime and port terminals – with a presence in Spain, Turkey, the US, UK, China, and Southeast Asia. Noatum’s global logistics business specialises in comprehensive freight management, project logistics, contract logistics, international supply chain management, customs and e-solutions, with offices and a wide network of agents around