It is reported that AD Ports Group, a Middle Eastern port logistics giant, has announced the acquisition of Noatum, a logistics company headquartered in Spain, for $680 million (approximately RMB 4.9 billion). This is a global comprehensive logistics group with operations in 26 countries. AD Ports claims that this transaction significantly expands its global business scope and makes 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 comprehensive freight management, project logistics, contract logistics, international supply chain management, customs, and electronic solutions, with offices and a wide network of agents worldwide.

According to AD Ports Group, Noatum has advanced capabilities in heavy cargo logistics and the group hopes to introduce it to the Middle East region. Noatum's terminal business includes operations at 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.

AD Ports stated that recognizing Noatum's high growth potential and scale capabilities, AD Ports Group intends to create a market leading international logistics brand by merging its existing logistics business with Noatum, in order to establish significant influence in the Middle East and strengthen its services provided globally. In the future, Noatum will lead the logistics cluster of AD Ports Group, integrating 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 plan to expand this business in our local and core markets, 'said Falah Al Ahbabi, Chairman of AD Ports Group, This ambitious acquisition has brought AD Ports Group a major global logistics platform, greatly enhancing our global connectivity, and expanding the range of shipping, logistics, and port solutions we can offer as 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 obtaining regulatory approval, the transaction is expected to be completed in the first half of 2023.

This transaction marks AD Ports Group's third major international acquisition this year. Previously, the group acquired 70% equity of regional shipping company Transmar and terminal operator TCI in September, and earlier this month acquired 80% equity of Dubai based regional shipping company Global Feeder Shipping (GFS).

Article source: 搜航网