AD Ports Group has completed the acquisition of Noatum, a global integrated logistics services provider, after receiving approvals from all relevant regulatory bodies.
More specifically, the company received the final approval from Spanish Authorities and the regulatory clearance from the European Commission earlier in the year.
The total purchase consideration for 100% ownership of Noatum is approximately US$720 million. Noatum generated revenue and EBITDA of US$1.7 billion and around US$122 million in the last twelve months.
According to AD Ports Group, the acquisition of Noatum will generate several important synergies, including revenue enhancement, cost savings, joined purchasing, transfer of best practices, market expertise, and adoption of cutting-edge technology.
"This landmark acquisition is a testament to our wise leadership’s enduring support and aligns seamlessly with our long-term growth strategy. 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," commented Captain Mohamed Juma Al Shamisi, managing director and Group CEO of AD Ports Group.